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DFM Foods tanks 9% on Al Global's proposal to buy 68% promoters' stake

AI Global will have the right to appoint the Directors on the Board of the company upon closing of the transactions

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Buzzing stocks

SI Reporter  |  New Delhi 

Shares of DFM Foods, the owner of Crax and Natkhat brands, were under pressure on Wednesday, sliding 9 per cent to Rs 250.10 per share on the NSE, after US-based private equity firm Advent International Corporation inked a deal with the company's promoters to acquire 67.9 per cent of their stake for around Rs 851.6 crore in an all cash deal.

AI Global also made an open offer to buy up to 26 per cent from the company's public shareholders at a price of Rs 249.50 per share. This was 7.66 per cent lower than the company's last closing price of Rs 270.20 on the BSE. ...

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First Published: Wed, September 11 2019. 11:16 IST
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