Advent to buy control of Indian snacks producer DFM
Advent International has agreed to acquire a 67.9% stake in Indian snacks manufacturer DFM Foods from investors including WestBridge Capital for INR8.52 billion ($118.7 million). It has made an open offer to buy a further 26% of the company for INR3.26 billion.
The private equity firm will pay INR249.50 per share for 34.1 million shares held by WestBridge and the promoters. It wants to acquire up to 13.1 million shares from public shareholders for the same price,...
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