Humania GCC Holding Limited completed the acquisition of Kaya Middle East, DMCC from Kaya Limited.
June 06, 2024
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Humania GCC Holding Limited entered into definitive agreement to acquire Kaya Middle East, DMCC from Kaya Limited (NSEI:KAYA) for AED 2.3 million on March 27, 2024. Humania GCC will pay AED 2.3 million subject to customary adjustments for actual debt, actual working capital, gratuity payments to employees of the businesses being transferred and transaction related expenses and payables. Kaya Middle East, DMCC reported revenue of AED 9,372,160 and net worth of AED 11,190,375 during the last financial year March 31, 2023. Post completion of the acquisition, Given that the Company will cease to hold any shareholding in Kaya DMCC and cease control over Kaya FZE) (both of which are the Company?s material subsidiaries), approval of the Company?s shareholders is being sought by way of a special resolution. The transaction is subject to receipt of necessary approvals including regulatory authorities and the shareholders of Kaya Limited and the transaction is also subject to customary adjustments in respect of actual debt, actual working capital, gratuity payments to employees of the businesses being transferred and transaction related expenses and payables, in accordance with the terms of the definitive agreements. The transaction is expected to close in Quarter 2 of financial year ending on March 31, 2025. Ernst & Young Private Limited, Investment Banking Arm acted as financial advisor to Kaya Limited.
Humania GCC Holding Limited completed the acquisition of Kaya Middle East, DMCC from Kaya Limited (NSEI:KAYA) on effective June 7, 2024. Mr. Rajiv Suri would continue his services as part of Kaya Limited.
Kaya Limited is an India-based company, which operates a chain of skin, hair and body care clinics in India and the Middle East. The Company offers specialty products and services, which are developed by its dermatologists. It provides a range of skin and hair care products and services, such as remedying acne, pigmentation, dull skin concerns, overall skin health, hair concerns and other everyday skin and hair needs. The Company offers approximately 80+ products, including acne, brightening, everyday essentials, anti-ageing, derma naturals, body care, hair care and beauty facials. Its skin- and hair-based services include Oxygeneo Medifacial, Skin and Eye Threads, Profhilo Fillers, Restylane Lyft, Restylane Kysse, High-intensity focused ultrasound, and Hair threads. Its Body care portfolio includes CoolSculpting Technology, Enzymatic Resurfacing, Venus Legacy and Happy Intim intimate rejuvenation. Its skin care portfolio includes IV Boost, DNA Repair Therapy and Skin Boosters Jalupro.