Stocks

LT Foods, HUL deal gets CCI nod

| Updated on January 20, 2018 Published on May 17, 2016

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Hindustan Unilever has received Competition Commission of India’s nod to sell its rice export business to Delhi-based LT Foods. The deal, announced in March, allows transfer of the brands and inventory to LT Foods for ₹25 crore. LT Foods owns the Dawat basmati rice brand. HUL began exporting premium basmati rice in 1985 under the Gold Seal Indus Valley brand. Analysts will closely monitor the development.

Published on May 17, 2016
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