Britannia surges on Danone dispute settlement
Shares of Britannia Industries gained momentum after the company announced that it had received Rs 22 crore from France’s Danone to settle a dispute over the 'Tiger' brand.
By ET Bureau |
MUMBAI: Shares of Britannia Industries gained momentum after the company announced that it had received Rs 22 crore from France���s Danone to settle a dispute over the 'Tiger' brand.
The company added that all the IPR issues on Tiger, were resolved with Kraft, with Britannia securing the legitimate right to its Tiger logo around the world.
The Nusli Wadia-led Britannia was embroiled in bitter intellectual property right violation litigation with its partner Groupe Danone after the Indian company charged the French dairy major with using its Tiger trademark - a key intellectual property - in the overseas market without prior consent. The two companies moved court for arbitration in 2007 in Singapore and Malaysia.
Groupe Danone sold its biscuit business to Kraft Inc in December 2007.
At 10:20 am, shares of the company were trading at Rs 1737, up 5.64 per cent or Rs 89.95 from the previous session.
The company added that all the IPR issues on Tiger, were resolved with Kraft, with Britannia securing the legitimate right to its Tiger logo around the world.
The Nusli Wadia-led Britannia was embroiled in bitter intellectual property right violation litigation with its partner Groupe Danone after the Indian company charged the French dairy major with using its Tiger trademark - a key intellectual property - in the overseas market without prior consent. The two companies moved court for arbitration in 2007 in Singapore and Malaysia.
Groupe Danone sold its biscuit business to Kraft Inc in December 2007.
At 10:20 am, shares of the company were trading at Rs 1737, up 5.64 per cent or Rs 89.95 from the previous session.
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