Groupe Danone, the global dairy products major based in France, netted a capital gain of Rs 380 crore ( $56 million) when it recently divested its indirect 25.5 per cent holding in the Bangalore-based biscuit major Britannia Industries.
For five decades now, Bourbon and Britannia have gone hand in hand. The Wadia family-controlled company lords over 70 per cent of the popular biscuit category. The rest of the market is with about half a dozen other brands.
While Wal-Mart is facing delay in the rollout of its retail plan, Carrefour SA, the world's second-largest retail chain, is still struggling to finalise its Indian partner even after six years of persistent search.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
The IPR committee of the Britannia board was created in May 2006 to deal with all IPR matters. For the last one year, the committee has been working to resolve the issue of the use and registration of Tiger by Groupe Danone in several countries.
The Wadia-group promoted private carrier GoAir's Chief Executive Officer (CEO) Edgardo Badiali, is believed to have has resigned from his post.
One person was killed and one injured seriously when a rotary piling machine, working on the metro rail project site of the Mumbai Metropolitan Region Development Authority, toppled over on an auto-rickshaw on Wednesday morning, crushing the passenger to death and grievously injuring the driver
The powerloom town of Malegaon on Tuesday remained tense following the blast, which killed four persons and injured 70 others but the situation is under control, the police said. The injured also included seven policemen and 11 homeguards, who were hurt in stone-pelting by a mob after the blast at Bhikku Chowk on Monday night, they said.
It's a contest for married women -- glamorous women who have maintained a perfect balance between their home, family and career.
The Punjab Government will have a "re-look" at the free security and entertainment tax exemption granted to Punjab Cricket Association for hosting cricket matches at the Mohali stadium, including the Indian Premier League. The Mohali police slapped a huge bill of Rs 1.88 crore on the PCA for providing security for the IPL matches following the Ness Wadia-SSP RS Khatra spat.
GoAir reluctant to respond to overtures.
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Domestic wind power firm Suzlon Energy chief Tulsi Tanti, along with Wadia Institute of Himalayan Geology's D P Dobhal, have made to a list of global environment champions prepared by the Time magazine.
Mohammad Ali Jinnah's daughter Dina Wadia filed a petition in the Bombay High Court, in August this year, for acquiring possession of Jinnah House, the late leader's residence in plush Malbar Hill locality of South Mumbai.
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GoAir and Tata-AIG have signed a deal of travel insurance for passengers who book online tickets.
It will take legal action against French food giant Group Danone, for nauthorised use of the Tiger biscuit brand in other countries.
The Wadia family-owned GoAir, the country's smallest low-cost carrier, has decided to retrench 10 per cent of its staff. This, it hopes, will help prune its wage bill by 40 per cent -- a clear indication that the axe will fall on several senior-level jobs.
GoAir has recorded 73% growth in its passenger traffic so far this fiscal.
The Wadia group-promoted budget airline, GoAir, is in talks with potential investors to raise around $80-100 million to help propel its future expansion.
In India, Danone holds a 25.5 per cent stake in market leader Britannia Industries through holding company Associated Biscuits International Holdings.
GoAir is believed to be mulling over bringing in a new equity partner from among three aspirants, including a leading Indian corporate and a global venture capitalist - a move that would help the Wadias- promoted airline to expand its fleet to 40 aircraft by 2012.
Groupe Danone is contemplating an exit from the biscuits category in India, due to low margins and a plethora of small manufacturers.
Around four months ago, GoAir had returned two aircraft to lessors as a part of its "dynamic fleet strategy" that involved inducting more aircraft in the peak season and letting go in the lean season.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
French dairy major Groupe Danone has offered to pay the Wadia Group euro1 million ($1.34 million) as compensation to use its Tiger brand in international markets.
Former India coach Greg Chappell, ex-Australia coach John Buchanan and Victoria's Greg Shipperd are the other Australian coaches targeted by IPL teams.
The carrier, which is owned and promoted by Jeh Wadia, has been valued at $314-400 million by private equity investors. At 28 per cent, the value of the proposed investment is expected to be $88-112 million.
In the last month and a half, Danone has announced initiatives in China, Japan and Thailand, indicating a significant role played by Asia in the gameplan of the Euro13 billion dairy major.
Chief executive Giorgio de Roni explains to Business Standard the merit of GoAir's cautious approach.
Britannia, which holds over 38 per cent of the market in value terms, is investing Rs 130 crore (Rs 1.3 billion) to increase its capacity, 433,000 tonnes of biscuit last year, by 20,000 tonnes.The move is designed to wrest market leadership in volume terms as well, a position now held by rival Parle.
Carrefour, which is said to be close to announcing a tie-up with Wadias, is still talking to some other companies, they said.
GoAir announced discounts on fares, starting from December 21.
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The firm, which traces its origin back to 1862 in a humble Kolkata bakery and its subsequent listing on the bourses in 1918, says that it now wants to grow "substantially" and not just rest on its laurels.
The first death, that of an 11-year-old boy, has occurred due to 'Malegaon-fever' in the powerloom town, about 90 km from Nashik, official sources said Monday.
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