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The transaction is expected to be completed by the end of calendar year 2024
Conagra Brands, Inc. announced that one of its subsidiaries has entered into a definitive agreement with funds advised by Convergent Finance and Samara Capital to divest its 51.8 per cent ownership stake in Agro Tech Foods Limited (ATFL), a food company based in Mumbai, India, and listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. The transaction is expected to be completed by the end of calendar year 2024. Upon the close of this agreement, Conagra Brands will no longer consolidate the results of ATFL in its financial statements.
Conagra Brands was advised by Bank of America and Cyril Amarchand Mangaldas on this transaction.