Godrej Agrovet to acquire remaining 48.06% stake in Creamline Dairy for Rs 930 Cr
CDPL is principally engaged in milk procurement, processing of milk and manufacturing and selling of milk and milk products
Godrej Agrovet’s board approved the acquisition of the remaining 48.06 percent stake in Creamline Dairy Products, which is set to become a wholly-owned subsidiary of the company.
Godrej Agrovet on March 11 announced that it has approved the acquisition of the remaining 48.06 percent stake in Creamline Dairy Products Limited (CDPL). After the acquisition, Creamline Dairy Products is set to become a wholly- owned subsidiary of the company.
“The Board of Directors has approved the purchase / acquisition of remaining 48.06% Equity Stake in Creamline Dairy Products Limited (CDPL), making CDPL a wholly owned subsidiary of the company, upon completion of the said acquisition. The Board of Directors has also approved the execution of a Share Purchase Agreement with the Promoter Group of Creamline Dairy Products Limited (Sellers) and Creamline Dairy Products Limited for purchase / acquisition of 47.38% Equity Stake in CDPL,” the company said in an exchange filing.
The cost of the acquisition is Rs. 930 crore only.
CDPL is principally engaged in milk procurement, processing of milk and manufacturing and selling of milk and milk products.
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