Article Abstract:
Preferred Brands Foods (India) Private Ltd (PBFIL) plans to acquire 20 percent stake in Tasty Bite Eatables Ltd (TBEL). PBFIL has made an open offer to TBEL. TBEL markets ready to serve food and frozen vegetables. The move follows PBIFL's pact with Grand Foods Catering Consultants Private Ltd (GFCCL), the holding company of TBEL. PBFIL had entered into an agreement with GFCCL to acquire 50.92 percent stake in TBEL. PBFIL plans to acquire four lakh shares of TBEL at Rs21.25 per share through the open offer. The takeover is aimed at developing a supplier relationship with TBEL. (ag)
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To acquire 20% stake in Tasty Bite Eatables Ltd.
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Corn Products India Ltd (CPC) is a subsidiary of the $9 billion Bestfoods Inc (BI) of USA. BI is one of the largest food companies in the world. CPC recently acquired the Captain Cook brand salt along with other assets from DCW Home Products (DHP). This acquisition will enable CPC consolidate its position in the food business. Its other products include Knorr brand soups, Rex brand jelly and Brown and Polson brand custard powder. CPC is to be re-named International Bestfoods Ltd. BI may introduce its other products in India. The CPC scrip is trading at Rs320. (uh)
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With Dabur India (DI) deciding to reduce its stake in Excelsia Foods Ltd (EFL) from 60 percent to below 50 percent, Nestle SA (NSA) is all set to acquire EFL. Currently, DI holds 60 percent stake in EFL, while Osem of Israel holds the balance stake. NSA has a controlling stake of 40 percent in Osem which will also give the company control over EFL. NSA's holding in EFL is likely to go up to nearly 51 percent. (gs)
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Is all set to acquire Excelsia Foods Ltd
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