The current transaction is routed through a subsidiary, so all proceeds (post capital gains tax) would come to the company and it remains to be seen whether it will be shared with shareholders.
The French dairy maker might have failed through joint ventures, and on its own. But its attempt as a venture investor may actually pay off.
In an order dated August 28, the Competition Commission of India (CCI) said "no prima facie case of contravention of the provisions Section 4 of the (Competition) Act" is made out against Nutricia.
Further, he expects it to strenghten product offerings and distribution. Currently, the products that are sold in the northern part of India are supplied from the company's Manchar plant in Maharashtra.
Yakult Danone India, a 50:50 JV between Japan-based Yakult Honsha and Groupe Danone of France, is currently present in 40 cities across 12 states in the country.
French nutrition and dairy major Danone has expanded its offerings in the dairy segment with launch of Greek yogurt as it targets doubling its India business by 2020.
The company, which today launched its global flagship infant nutrition brand 'Aptamil' In India, is also looking to leverage on its Indian manufacturing operations to export to neighbouring countries such as Nepal, Bangladesh and Sri Lanka.
Distributors usually transact in cash with retailers and in turn pay manufacturers via bank accounts. BeatRoute Innovations, a startup that focuses on facilitating last-mile trade between packaged goods companies, distributors and neighbourhood stores, is launching a cashless transaction service for traders and distributors to ease their hardship.
Credit Suisse has maintained underperform rating on the stock but increased target price to Rs 6450 per share.
Wockhardt has had a fair share of difficult times too. In 2008, the pharma company‘s net worth had eroded to near bankruptcy. Global financial crisis and major foreign exchange losses had hurt it as well. To tide over the crisis, the company decided to go in for CDR in 2009.
"The media environment here has absolutely changed. Social media has revolutionised what companies do in a crisis situation," said Kent Kedl, in charge of Greater China and North Asia for risk consultancy firm Control Risks.
French dairy major Danone's Managing Director Laurent Marcel called on Punjab Chief Minister Parkash Singh Badal here last evening.
French food group Danone plans to double its sales in India in the next three years, a company executive said, as the world's top yogurt maker raises focus on emerging markets to drive growth when its traditional European markets are slowing.
French dairy giant Danone, which had acquired the nutrition business of Wockhardt, plans to double the domestic baby and medical nutrition business in three to four years, a top company official has said.
French dairy major Danone said its new business unit here which is dedicated for developing products for the masses, will be rolled out to other cities by next year.
Strong emerging markets helped consumer goods giant Unilever avoid issuing similar profit warnings as two of its main rivals, although it did warn of tougher times ahead due to difficult economies and volatile input costs.
Pfizer Inc is near a deal to sell its baby formula business to Swiss food giant Nestle SA for at least USD 9 billion, the Wall Street Journal reported on Tuesday.
The world's biggest food group Nestle said weakening consumer sentiment in developed markets would make it harder to improve margins as it raised its sales growth outlook for 2011 after beating forecasts for the first nine months.
The Bombay High Court today directed the debt-laden pharma company Wockhardt to clear all dues to its bondholders by August next year and allowed the sale of its nutrition business to French foods major Danone.
Wockhardt has finally reached an agreement with its bondholders over a payment schedule proposal as directed by the Bombay High Court.
French dairy firm Danone today launched a new business unit in India dedicated for developing products for the masses, as it looks to expand its presence in smaller towns and cities.
French major Danone has begun its solo ride in India with the roll out of select food products in Indian stores. CNBC-TV18's Tanvi Shukla and Gopika Gopakumar take a look at the company's menu for India.
Last night, troubled pharma major Wockhardt agreed to sell its nutrition business to French giant Danone. But CNBC-TV18 learns that it is not all hunky dory for the company as the deal may face objections from Wockhardts’ lenders.
Carol Info Services touched a 52-week high of Rs 246.10. At 10:22 hrs the share was quoting at Rs 238.55, up Rs 27.15, or 12.84%. Danone will acquire Wockhardt's nutrition business and brands as well as related industrial operations from Carol Info Service. Carol Info is a subsidiary of Wockhardt, reports CNBC-TV18.
Wockhardt touched an intraday high of Rs 471.60 and an intraday low of Rs 448. At 10:12 hrs the share was quoting at Rs 453.40, down Rs 6.20, or 1.35%. Danone has acquired comapny's nutrition biz for 250 million euros or Rs 1550 crore, reports CNBC-TV18.