Norway's Orkla close to buying India's MTR Foods for 3.25-3.5 bln rupees -report |
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Published
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Thu, 18 Jan 2007 04:23
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BOMBAY (XFN-ASIA) - Orkla Foods, a unit of Norway's Orkla ASA, is close to acquiring South India-based MTR Foods for 3.25 to 3.50 bln rupees, the Economic Times reported, citing 'highly-placed sources'.It said the deal should be closed in the next few weeks.US spice company McCormick was widely tipped to take over MTR earlier, but the deal fell through at the last minute due to differences over structuring of the deal, particularly on certain intellectual property issues relating to the brand name, the paper said.rc/
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India's Infosys Q3 to Dec net profit 9.83 bln rupees, up 51.5 pct on yr - UPDATE 