ACI to terminate joint venture deal with Dabur International

Advanced Chemical Industries Ltd (ACI) said it has decided to terminate its joint venture deal with Dabur International Ltd to accelerate its expansion.

The board has approved the termination of the joint venture agreement dated July 5, 2003, with Dabur International, formerly known as Redrock Ltd, said the Bangladeshi company in a filing on the Dhaka Stock Exchange today.

ACI will sell its entire shareholding of 24 per cent in the share capital of Asian Consumer Care Ltd involving Tk 60 crore to expand its operations.