German consumer goods major Henkel AG & Co. has not exercised its option to buy up to 26 percent stake in Jyothy Laboratories Ltd.
Henkel had the option to buy shares from Jyothy Laboratories as part of an agreement signed in 2011, when the maker of Ujala fabric whitener bought a majority stake in the Indian arm of the German firm. Henkel had to acquire the stake in the year ended March and the deadline was later extended till October 31.
Jyothy Laboratories' licensing agreement for Henkel's brands Pril and Fa will continue and the two are mutually exploring other opportunities to work together, the Indian company said in an investor presentation.
Also Read: Henkel Begins Due Diligence For A Stake In Jyothy Laboratories
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