MUMBAI: Britannia Industries chairman Nusli Wadia is understood to have asked Danone to pay a hefty compensation for the ‘opportunity loss’ in dissolving the 1991 Wadia-BSN joint venture agreement and for not giving the JV a chance to buy a stake in Avesthagen.
The Wadia group’s legal and finance teams have been checking corporate regulations to build a battery of claims to put pressure on Danone’s asking price for the 25.1% stake in Britannia, it is reliably learnt. Sources said talks between the Wadia group and Danone, which initially took off cordially, soured over ‘evaluations’.
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Monday, September 24, 2007
Biscuit Battle: Wadia ask Danone to pay damages
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