Nestle to buy 26% stake in Indocon Agro & Allied Activities
Quotes

Nestle to buy 26% stake in Indocon Agro & Allied Activities

Last Updated: Monday, February 04, 2013, 20:59
 
 Comment 0
 
Nestle to buy 26% stake in Indocon Agro & Allied Activities
New Delhi: FMCG major Nestle India on Monday said the company has inked a pact to acquire a 26 percent stake in Indocon Agro and Allied Activities Private Ltd.

In a BSE filing, the company said it "has entered into agreement for acquiring 26 percent minority stake in Indocon Agro and Allied Activities Pvt Ltd, engaged in milk collection business in Western India".

"This business investment will contribute to creating shared value with farmers engaged in milk," it added.

The acquisition is subject to the parties fulfilling their respective obligations, the statement said.
Apart from milk and yogurt, Nestle sells popular products like Maggi noodles, Nescafe and KitKat chocolates in India.

The company has 7,000 employees in India and its products are sold in 40 lakh outlets across the country.

Shares of Nestle India on Monday closed at Rs 4,749 on the BSE, up 0.63 percent from their previous close.

PTI



First Published: Monday, February 04, 2013, 20:59


Comments


comments powered by Disqus
Forbes Best Places for Biz 2014
Forbes Best Places for Biz 2014
Hyundai Elite i20
Hyundai Elite i20
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved