Danone and Wadias yet to finalise divorce deal

BANGALORE/NEW DELHI: The end game between Wadias and Groupe Danone continued as both partners are still exploring an amicable parting of ways, including the possibility of the latter selling its stake in domestic biscuit major Britannia Industries to Wadias at the right price.

Nusli Wadia and Danone chairman Franck Riboud kicked off separation talks on Monday on a one-to-one basis.

“Negotiations are rather intense and there’s a pretty hard bargaining going on. There are not too may people involved in the talks that are happening at the highest level,” an informed source said.

The talks happening at London revolve around snapping of ties between the two camps on several fronts, separation in Britannia; dissolution of Wadia BSN JV, which tied down Danone to Wadias alone in India; a trademark dispute involving Britannia’s key brand Tiger and dropping of legal cases initiated by Wadias against the French partner.

Officially, both Danone and Wadias remained tightlipped on Tuesday, even as indications suggested that talks were progressing. Wadias and Danone, partners for well over a decade now, have seen the relationship sour in the last one year.