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Patanjali in talks with Godrej Agrovet for Ruchi Soya bid, claims report

Patanjali in talks with Godrej Agrovet for Ruchi Soya bid, claims report

Patanjali in talks with Godrej Agrovet for Ruchi Soya bid, claims report
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By CNBC-TV18 Jun 6, 2018 11:18 AM IST (Published)

Yoga guru Ramdev’s Patanjali Ayurved Ltd is in talks with Godrej Agrovet Ltd for a potential tie-up for the Ruchi Soya Industries Ltd bid, reported LiveMint.

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According to the report, sources have indicated that Patanjali may sell Ruchi Soya’s palm oil plantation assets if its bid is successful.
“Talks between Patanjali and Godrej Agrovet are informal at this stage… however, Patanjali may seek an exclusive supply contract with the buyer,” the person was quoted saying in the report.
However, Godrej Agrovet denied the development.
“Godrej Agrovet is not in talks with any organisation for a tie-up to bid for Ruchi Soya Industries. It is apparently hearsay and we deny any such talks,” Balram Singh Yadav, Managing Director, Godrej Agrovet was quoted in the report.
The development comes days after agency reports had claimed that Patanjali had emerged as the highest bidder for Ruchi Soya with an offer of around Rs 4,300 crore.
Similarly Godrej Agrovet too had shown interest towards the company that was facing Corporate Insolvency Resolution Process.
(With PTI inputs)
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