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| Exchange Disseminated Time | Agro Tech Foods Ltd (ATFL) has informed BSE that the Company on November 12, 2010 signed an agreement with Cargill India announcing the sale of its Vanaspati brand Rath to the latter. The transaction is only limited to the Rath brand.
This divestiture is consistent with ATFL’s long term strategy of focusing on value added products.
This sale will enable ATFL to capture value from this non-strategic asset and further invest it in value added products in its foods business. The realization from the sale will also help unlock cash reserves and further strengthen ATFL’s Balance Sheet. |
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