Danone has stayed tight-lipped over reports in India that it could sell its stake in Britannia Industries, India’s largest biscuit maker.
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Danone has been embroiled in a long-running spat with India’s Wadia Group, its venture partner in the Britannia business, over trademark agreements linked to the business.
Wadia has accused Danone of breaking trademark contracts drawn up as part of the venture and has launched legal action against the French food giant.
The two companies have held a series of talks over the future of Britannia and speculation in India has grown that Danone could look to sell its 25.5% stake in the business.
A report in India’s Economic Times newspaper today (21 January) claimed that two Wadia subsidiaries – Kalabakan Investments and Bombay Burmah Trading – are set to buy Danone’s stake, in return for the Indian conglomerate dropping its legal action.
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By GlobalDataOfficials at Wadia could not be reached for comment as just-food went to press. Danone, however, refused to be drawn on the reports.
“Discussions are still going on,” a Danone spokesperson told just-food from Paris. “We have agreed not to make any comment.”
