Wipro to buy Singapore's Unza for Rs 1,000 crore

Azim Premji-led Wipro Ltd on Friday said it will acquire 100 per cent stake in Singapore-based Unza Holdings Ltd in an all cash deal worth Rs 1,010.2 crore (Rs 10.102 billion or $246 million).

Wipro has entered into definitive agreement for acquisition of 100 per cent stake in Unza Holding, a Fast Moving Consumer Goods company with revenues of Rs 623.3 crore (Rs 6.233 billion) in the year ended April 30, the company said in a communique to the Bombay Stock Exchange.

The transaction is expected to be closed by July end, the company said.

Unza is South East Asia's leading manufacturer and marketer of personal care products with operations in over 40 countries. It markets a wide portfolio of personal care brands, such as Enchanteur, Safi, Romano and Izzi and two detergent brands -- Vigor and Maxkleen.

Unza has manufacturing plants in Malaysia, Vietnam, China and Indonesia.