The Office Times

BIC increases stake in Cello pens

BIC has completed the purchase of shares to increase its stake from 55% to 75% in Cello Pens 7 entities for 4.3 billion Indian rupees (app. 53 million euros).

BIC has a call option on 15% of the share capital, allowing its stake to reach 90% by 2016,

Cello Pens has been fully consolidated since October 2013 within the BIC Group and contributed 18.1 million euros in BIC full year 2013 net sales. If Cello Pens had been fully consolidated for the entire year 2013, its contribution would have been around 81 million euros in net sales with a Normalized IFO margin of 23%.

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