Marico acquires stake in Apcos Naturals by admin- Thursday, July 15th, 2021 04:35:16 PM
Marico has entered into Share Subscription Agreement and Shareholders agreement with Apcos Naturals Pvt. Ltd, the business enterprise that owns the logo “Just Herbs” and a Share Purchase Agreement with its current promoters and shareholders, to make a strategic funding in Apcos Naturals with the aid of obtaining / subscribing 60% of the whole paid-up percentage capital inside the shape of Equity Shares and Compulsorily Convertible Preference Shares (“CCPS”) of Apcos Naturals.
The Company shall accumulate fifty two.4% of the total paid-up percentage capital by means of July 31, 2021 and accordingly Apcos Naturals shall become a subsidiary of the Company. The Company will collect the stability stake of seven.6% with the aid of March 31, 2023 as in line with the situations set out within the Shareholders agreement signed among the events.