Good times for ICICI's Indian M&A team

On Friday, ICICI announced that the chemical company ICI would pay Rs155 crores ($25 million) for 51% in Hindustan Lever’s flavours and fragrances business. This followed ICI’s acquisition of Unilever’s flavours and fragrances business in 1997. This deal completes the picture globally, since India was the only country not part of the 1997 acquisition.