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Joint venture dissolved

This article was originally published in Foodnews

BRITANNIA Industries Ltd of India has entered into an agreement with Fonterra Brands (Mauritius Holding) Ltd of Mauritius to buy the latter's 49% stake in Britannia New Zealand Foods Pvt Ltd (BNZF), their joint venture dairy company, and assume total ownership of it. The joint venture was set up in 2001 (FOODNEWS 2 November 2001) .The acquisition is subject to approval by the Reserve Bank of India.

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