Bharti Enterprises will become the second largest shareholder in Agro Tech Foods, with a nearly 21 percent stake, after the share swap. Agro Tech Foods will acquire an exclusive, perpetual license for the Del Monte brand in India.
Conagra has agreed to continue the perpetual and exclusive license for the ACT II brand in India with Agro Tech Foods.
Conagra Brands’ 51.77 percent stake in Agro Tech Foods was worth Rs 1,123 crore at the time of reporting that the US based packaged foods company is looking to sell a controlling stake in its Indian business.
Conagra’s 51.77 percent stake in Agro Tech Foods is worth Rs 1,123 crore at the current market price of its shares. Rakesh Jhunjunwala family holds an 8.14 percent stake in the company