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Hatsun Agro Product Ltd on Saturday said its board will meet on March 9 to consider a proposal to sell assets of the company’s ready-to-eat business. In a regulatory filing, the company said its board of directors will be held on March 9 to consider and approve the proposal for the sale of assets of the RTE (ready-to-eat) business and its brand ‘Oyalo’ to the prospective buyer at a price mutually agreeable to the company and the buyer.
The board will decide the modalities of the agreement to be entered into and treatment of sale transaction, it added.
Tamil Nadu-based Hatsun Agro is one of the leading dairy firms in the country.
Bellani has built two businesses in the past- Kohinoor Ready-to-Eat Foods (later acquired by McCormick, US) and Del Monte in India.
The Rajasthan-based, ready-to-eat (RTE) products maker has appointed JM Financial, IIFL Securities and Intensive as its bankers to the issue.
