India's Sakuma Exports sets sights on Ruchi Soya purchase

Sakuma Exports

23/02/2018 14:29

MUMBAI, Feb 23 (Reuters) - Commodities trader Sakuma Exports 
 SAKE.NS  has submitted an expression of interest to acquire 
leading Indian edible oil importer and retailer Ruchi Soya 
 RCSY.NS , it said on Friday. 
    Ruchi Soya is in the midst of an insolvency resolution 
process with India's National Company Law Tribunal (NCLT) 
 urn:newsml:reuters.com:*:nI8N1MF00E 
    The proposed acquisition would allow Sakuma to enter the 
retail market using Ruchi Soya's existing distribution network, 
said Sakuma managing director Saurabh Malhotra. 
    Sakuma Exports mainly trades in agricultural commodities 
such as sugar, corn, cotton and edible oils. 
    Malaysia's Sime Darby Plantation  SIPL.KL , the world's 
largest oil palm planter by land holdings, has also expressed 
interest in Ruchi Soya.  urn:newsml:reuters.com:*:nL4N1QC2DK 
 
 (Reporting by Rajendra Jadhav; Editing by David Goodman) 
 ((rajendra.jadhav@thomsonreuters.com; +91-22-6180-7153 ; 
Reuters Messaging: 
rajendra.jadhav.thomsonreuters.com@reuters.net)) 
 
Keywords: RUCHI SOYA M&A/SAKUMA EXPORTS