Dabur to buy stakes

Dabur to buy stakes
AGENCIES

NEW DELHI, MAR 8: The Amit Burman promoted Angel Infotech, a part of the Dabur Group, has identified four emerging DoT com companies for acquiring close to 33 per cent stake in each. The entire transacion is expected to be completed in three months, Burman said.

"All the IT companies we have identified are in the retailing and supermarket businesses. This is part of our business strategy to become a major force in the growing it sector," he added.

However, he refused to divulge names of the companies as also financial details of the deals.

Angel has already picked up 30 per cent stake in Infinitee Solutions Private Ltd (IEPL). The remaining stake in the venture is held by Rohit Anand and Rajeev Gujral. Besides, beautician Vandana Luthra has been given token equity in the venture, which today launched a complete woman's portal - smartbahu.com.

"The investment in IEPL is the first step towards expanding our presence in the IT industry,'' he added.

Earlier, announcing the launch of the portal, Burman said the content on smartbahu.com span areas such as careers, working home, recipes, parenting, health and fitness, beauty and money savers.

''My experience at dabur gave me an insight into the needs ofwomen and helped in creating a right blend of traditional values and needs of modern women on smartbahu.Com,'' he added.

He also reiterated that dabur will not sell off its 'real' brandof fruit juices.