Danone exits India joint venture

France's Groupe Danone will sell its equity stake in its India JV, Britannia Industries, to its local partners for around $200 million.

France's Groupe Danone is selling its equity stake in an India joint venture, Britannia Industries, to its local partners, the Wadia group, ending a relationship that started in 1993 but has been punctuated with problems of late.

The Wadia group will buy Danone's 25.48% holding, which will increase its stake to 50.96%, Britannia informed the National Stock Exchange in a filing on Monday. The valuation at which the deal will be transacted was not disclosed in the filing. The deal...

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