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ICI » Topics » 30 Acquisitions and disposals

This excerpt taken from the ICI 6-K filed Mar 21, 2007.

30 Acquisitions and disposals

Acquisitions
In April 2006, the Group acquired the fragrance business of Shaw Mudge & Company for £11m to support Quest’s market position particularly in hair care. In May 2006, ICI India Ltd (51% owned by ICI) acquired the remaining 49% of Quest International India Ltd from Hindustan Lever Limited for a cash consideration of £6m to strengthen ICI’s position in the region and enhance the growth opportunities for Quest. In December 2006, ICI Paints completed the acquisition of the 20 trade stores and 2 small franchises in the UK currently operated by S J Dixon and Sons Ltd for a cash consideration of £11m. Other acquisitions amounted to £3m.

The results for the year include £1m of profit attributable to the acquisitions. The revenue and profit after tax for 2006 for all acquisitions above, assuming that all acquisitions occurred on 1 January 2006, would have been £43m and £4m respectively.

The acquisitions had the following effect on the Group’s assets and liabilities:

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