Mumbai, July 13: ANZ Investment Bank has been appointed as the sole global advisor for the disinvestment/strategic sale of the Government of India's stake in Modern Foods Industries (India) Ltd, one of the largest food processing company in the country. This is the first mandate of its kind awarded by the government.As the global advisor, ANZ Investment Bank will be instrumental in examining both restructuring options for Modern Foods and in the potential search for an international investor/partner.
The mandate has been awarded against stiff competition from eight other domestic and international investment banks and consultancy firms. It represents a further initiative for ANZ Investment Bank's global corporate finance, combining extensive on the ground presence in India with cross-border skills internationally.
Commenting on the mandate, ANZ Investment Bank, India, Head of Corporate Finance and Relationship Management, Rajiv Maliwal said, "this is a significant strategic initiative from the Indiangovernment. We are delighted to have won this mandate."
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
