Thai Union Group is closing a deal with Indian shrimp processor and exporter Avanti Feeds in which Thai Union is acquiring a 40 percent stake in Avanti's newly spun-off frozen foods business for Rs 125 crore ($18 million/€16.2 million), reported VCCircle, a New Delhi-based online financial data and information services group.
Last year, Thai Union opened a new shrimp-processing plant in India, which it built through a joint venture formed with Avanti Feeds.
As part of the deal, Thai Union will nominate two board members of the unit while the Indian partner will have three board members.
Thai
