AAK Increases Its Shares in Indian Joint Venture
AAK has acquired an additional 12.14% of the shares of AAK Kamani, the joint venture between AAK and Kamani Oil Industries Pvt Ltd. that was formed in September 2015.
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AAK now owns 63.92% of AAK Kamani. The remaining 36.08% of the shares is owned by AAK Kamani’s CEO Prakash Chawla and his family. The transaction was completed and has no significant impact on AAK’s earnings, the company says.
The decision was taken to further strengthen its position in the strategic and fast-growing Indian market. AAK Kamani develops a wide range of oils for bakery and confectionery applications and for frozen desserts.