Colgate Palmolive grabs more stake in CC healthcare products

Colgate Palmolive grabs more stake in CC healthcare productsIn a bid to capture the entire shareholding stakes at CC Health Care Products, fast moving consumer goods major Colgate-Palmolive today increased its shareholdings in the Hyderabad-based tooth powder maker.

Till date the FMCG major enjoyed a stake holding of 75 per cent in the company.

In a recent filing with the Bombay Stock Exchange (BSE), the company corroborated that it has acquired the remaining 25 per cent of the share capital from local shareholders at an aggregate price of Rs. 69.07 lakh.

CC Health Care Products is now a wholly-owned subsidiary of Colgate-Palmolive, said the filing.     

The move from Colgate is expected to boost the company's share price.