Temasek to acquire 20 per cent in Godrej Agrovet for Rs572 crore
17 Dec 2012
Singapore-based investment company Temasek has agreed to acquire a 19.99 per cent stake in Godrej Agrovet Ltd, a subsidiary of Godrej Industries, for around Rs572 crore, the company said today.
Temasek will make the investment through a combination of primary and secondary funding with the primary investment supporting Godrej Agrovet's future expansion plans, according to a company release.
Godrej Agrovet is engaged in manufacture of agriculture and poultry based products. The company is known for brands such as Real Good Chicken and Yummiez brands.
The company operates in four business areas, including agri inputs, animal feed, oil palm and plant biotech and Godrej Tyson Foods.
''We welcome Temasek as a partner. We believe that their global credentials, knowledge of agribusiness and excellent track record will be beneficial to Godrej Agrovet.
Godrej Agrovet has been a tremendous source of value creation for Godrej Industries and continues to be on a strong revenue and profit trajectory, while delivering excellent returns on capital employed.
