Berlin — Henkel AG is selling its stake in Henkel India Ltd. Consumer goods company. Jyothy Laboratories of Mumbai will take over Düsseldorf, Germany-based Henkel’s 50.97 percent stake, with the transaction expected to close by the end of this month. In March of this year, Jyothy had acquired a 14.9 percent stake in Henkel India Ltd. from another stakeholder.
This story first appeared in the May 6, 2011 issue of WWD. Subscribe Today.
Henkel will remain in the market with its Schwarzkopf Professional hair care line, and will license brands Fa and Pril to Jyothy Laboratories. In 2010, Henkel India Ltd. had sales of 4.22 billion rupees, or approximately $91.1 million at average exchange. Henkel AG will generate a one-time gain of more than 30 million euros, or $44.5 million through the sale.