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Dabur Pharma divests its stake to Fresenius Kabi

Our News Bureau - Mumbai

The Burman family, promoters of the Dabur Group, has decided to divest its entire stake in Dabur Pharma to Fresenius Kabi, a business segment of Fresenius SE, a Euro 11.4 billion German multinational with business interests across the global healthcare space, at a price of Rs 76.50 per share. A share purchase agreement to this effect has been signed in New Delhi and the closing of the same is subject to requisite regulatory approvals. Dabur Pharma is the pharma business of the group and is focused on the attractive global oncology market. It has built up an impressive product portfolio in oncology that is being sold through its global footprint across more than 40 countries, including the key markets of Europe and US. In 2007, Fresenius Kabi had revenues of Euro 2,030 million and an operating profit of Euro 332 million.

Commenting on the proposed transaction, Dr Anand C Burman, Founder and Director of the company said, "We are happy to have created significant shareholder value through this business in a short span of time. At the same time, I am also confident that this business will continue to grow and strengthen under the able guidance of Fresenius group, a well-respected global healthcare player."

Reacting to the announcement of a proposed change of control from the Dabur Group to Fresenius Group, Ajay Kumar Vij, CEO, Dabur Pharma, commented, "The company has benefited greatly from the strong entrepreneurial abilities as well technical expertise of Dr Anand Burman and the family in bringing it to where it stands today. Under the new ownership, I am confident we will maintain this momentum going forward. We are looking forward to tap into the global knowledge pool, experience and footprint of the Fresenius group to realise the potential of our oncology business."