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Nestle SA may acquire 10% more in India ops
New Delhi, Aug 14: Swiss major Nestle SA plans to consolidate stake in Indian operations by buying up to 10 per cent more equity over the next 10 months and take its total stake in Nestle India to 64 per cent but has no plans to get this company delisted from Indian bourses.
New Delhi, Aug 14: Swiss major Nestle SA plans to consolidate stake in Indian operations by buying up to 10 per cent more equity over the next 10 months and take its total stake in Nestle India to 64 per cent but has no plans to get this company delisted from Indian bourses.
The Swiss company has taken a blanket approval from the government for this proposed 10 per cent stake hike and plans to do this via the creeping acquisition route, Nestle India Managing Director Carlo M Donati told reporters here.
The Swiss company has taken a blanket approval from the government for this proposed 10 per cent stake hike and plans to do this via the creeping acquisition route, Nestle India Managing Director Carlo M Donati told reporters here.
As on June 30, 2002, foreign promoters hold 53.96 per cent stake in Nestle India.
Asked if the parent company was planning to revive the ailing buiscuit making company Excelsia, which was acquired from Dabur India, Donati said "Nestle SA has decided not to begin operations at Excelsia for the moment but it is looking for opportunities"
He said while Nestle SA was yet to decide about the biscuits business in India, Nestle India had no plans to enter this business here. Bureau Report