INDIA: Danisco to buy out Indian partner
Danisco is to buy out its Indian partner, Shiv Jatia's 24% stake in their joint venture Danisco Ingredients India (DII). Indian government has given formal approval with Danisco estimating DII's requirement at a further US$4.8m. The DII, which makes food flavours and intermediates for confectionery and drinks at its facility outside Delhi, ran up losses of US$1.1m in the last year.
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