Britannia Industries Ltd has informed BSE that the Company has entered into an agreement dated April 28, 2009 with M/s. Fonterra Brands (Mauritius Holding) Ltd, Mauritius, for acquiring the latters 49% Equity and Preference shareholding in Britannia New Zealand Foods Pvt Ltd (BNZF), their Joint Venture Company engaged in Dairy business. This acquisition is subject to Reserve Bank of India approval.
With this acquisition, Britannia along with its wholly owned subsidiary will hold the entire Equity and Preference capital of BNZF.
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