AAK Buys More Shares in Indian Joint Venture

AAK has acquired an additional 5% of the shares of AAK Kamani, the joint venture between AAK and Kamani Oil Industries Pvt Ltd. that was formed in September 2015.

AAK now owns 69% of AAK Kamani. The remaining 31% of the shares are owned by AAK Kamani’s CEO Prakash Chawla and his family.

The transaction was completed today and has no significant impact on AAK’s earnings.

In September 2015, AAK acquired 51% of the shares of Kamani Oil Industries. The remaining 49% of the company’s shares continued to be owned by the Chawla family. Kamani Foods is a leading FMCG company in the branded consumer product space, specializing in premium cooking oils. They are headquartered at BKC in Mumbai. The range of offerings includes rice bran oil, groundnut oil, coconut oil, and sunflower oil.