Danone to sell 25.48% stake in Britannia to Wadia Group

MUMBAI: The Wadia group is buying out 60.86 lakh shares of Britannia via Leila Lands, a subsidiary of Bombay Burmah based in Mauritius from its equal JV partner French foods giant Groupe Danone.

Danone will sell its 25.48% stake in Britannia to the Wadias on April 14, the Wadias said this in a statement to the exchanges.

The move finally resolves the two-year long dispute between the Wadias and the French company over control of the biscuit company and will now lead the Wadias to gain complete control over Britannia.