Tyson Meals bought its 49% stake in a three way partnership it had with Indian firm Godrej Agrovet.
With the transaction, Godrej, which beforehand held a 51% stake, is the complete proprietor of the corporate referred to as Godrej Tyson Meals, which was fashioned in 2008. Godrej knowledgeable the Bombay Inventory Alternate (BSE) that it had accomplished the acquisition, and a associated submitting might be discovered on the BSE web site, dated August 27.
The submitting, signed by Godrej Agrovet Authorized & Firm Secretary and Compliance Officer Vivek Raizada, didn’t state whether or not the firm’s identify would stay the identical with out partial possession by Tyson.
The transaction concerned 97,461 shares.
Godrej Tyson Meals, in accordance with the corporate’s new full proprietor, is “engaged within the enterprise of processing, changing, producing, manufacturing, formulating, utilizing, shopping for, buying, storing, packing, canning, preserving, promoting, transporting, distributing, importing, exporting, buying and selling and in any other case dealing in all kinds (of) meals merchandise, drinks, meats, fish, marine merchandise, birds, poultry merchandise, fruits, greens dairy merchandise, wholesale and retail butchers and purveyors of, growers, grazers, breeders and sellers in cattle, sheep pigs, birds poultry, fish shrimp, marine creatures and different reside and lifeless inventory.”
Tyson Meals didn’t reply to a request for remark.
Godrej Agrovet talked about its intent to make the transaction on August 1, when it launched its monetary outcomes of the fiscal yr’s first quarter. In that very same report, it was introduced that Godrej Tyson Meals noticed revenues decline within the quarter, primarily on account of decrease volumes within the reside fowl enterprise because it continued to concentrate on its branded enterprise.
Godrej Agrovet, on its web site, describes itself as “a meals and agri conglomerate, devoted to enhancing the productiveness of Indian farmers by innovating services and products that sustainably improve crop and livestock yields.”
