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Article: Wadias complete buying out Danone from Britannia.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- April 16, 2009
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Wadias complete buying out Danone from Britannia
Mumbai, Apr 16 (PTI) The Wadia Group today completed buying out of French food giant Danone from their joint venture, Britannnia Industries.
In a filing to the Bombay Stock Exchange, Bombay Burmah Trading Corp (BBTC), a Wadia Group company, said its subsidiary Leila Lands Ltd (LLL) has acquired 100 per cent stake in Britannia Brand Ltd from Danone Asia.
"This has resulted in LLL's indirect shareholding in Britannia Industries increasing from 24.48 per cent to 50.96 per cent," it said.
The company, however, did not disclose financial details of the transaction.
BIL thus now ...