Indian edible oil importer and soy products supplier Ruchi Soya has said a deal to sell a majority stake in the company is likely to be concluded by June.

Yesterday, just-food reported the company is an acquisition target for regional agri-co heavyweights.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

India-based commodities trader Sakuma Exports confirmed it has submitted an expression of interest to acquire Ruchi Soya, which is in the midst of an insolvency resolution process with India’s National Company Law Tribunal (NCLT).

News agency Reuters reported Malaysia’s Sime Darby Plantation, the world’s largest oil palm planter by land holdings, has also expressed an interest in acquiring the business.

Confirming the interest, Ruchi Soya said it has received offers of INR80-100bn (US$1.48bn-1.85bn) for a majority stake in the company.

See Also:

Ruchi Soya did not name the bidders but added: “Large FMCG players including large Malaysian companies are bidding for the 51% stake in the company.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

And it said, by extension, it has come close to a resolution with the National Company Law Tribunal (NCLT).

Ruchi Soya said a deal is likely to be a “game changer” for the company, as deteriorating financials have impacted operations and growth.

The management suggests post-completion of a deal its debt would fall from INR5.9bn to INR2bn and lead to interest cost savings.

In November, Ruchi Soya had agreed a deal to sell a 51% stake in the company to Asian merchant bank Devonshire Capital.

Ruchi Soya is one of the largest exporters of value-added soy products such as textured soy protein, white soy flakes and soy lecithin. It also has a number of leading brands – Nutrela, Mahakosh, Sunrich, Ruchi Gold and Ruchi Star – and is the largest player in the cooking oil and soy foods category in India.

Among its contracts, Ruchi Soya co-packs for local FMCG giant Patanjali Ayurved.