Godrej Agrovet, a diversified agriculture company with interest in animal feed, oil palm plantations, agrochemicals and poultry, has sold 19.99 per cent to Singapore-based investment company Temasek for Rs 572 crore

The investment will be used to support the company’s future expansion plans, said Godrej Agrovet in a press statement on Monday.

Nadir Godrej, Chairman, GAVL, said the company would benefit from Tamasek’s global credentials, knowledge of agri-business and excellent track record.

“Indian agriculture is at an inflection point and with GAVL’s focus on research and development, we believe that the future looks very bright for the business,” he said.

According to Balram Singh Yadav, Managing Director, GAVL, “We are aggressively expanding rural distribution, increasing our manufacturing capacities and launching cutting-edge technologies for farmers. We look forward to partnering with Temasek to further accelerate our performance”.

HSBC acted as the advisor to the transaction.

suresh.iyengar@thehindu.co.in

(This article was published on December 17, 2012)
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