Breaking News

You are here » Indian-Commodity  :  Corporate  :  Dhunseri Petrochem enters into JV with Choicest Enterprises

31-Mar2018

Dhunseri Petrochem enters into JV with Choicest Enterprises

Dhunseri Petrochem (DPL) has entered a joint venture (JV) agreement with Choicest Enterprises (CEL) of Ambuja Neotia group to collaborate with each other in the business of setting up and operating restaurants for making and selling the well known 'UNO' Brand of Chicago style deep-dish pizzas and such other business as may be decided in future.

The JV company chosen for this purpose is Tastetaria, which was formed in 2016 and was already pursuing such business on its own as a wholly owned susbsidiary of DPL. Pursuant to the said agreement, CEL will acquire 75% of the existing share capital of Tastetaria from DPL while DPL will retain 25% of the share capital in Tastetaria. The agreement is subject to conditions precedent and will become effective on satisfaction of the same.

DPL cultivates, processes and markets tea, and manufactures petrochemicals. The company produces polyethylene terephthalate (PET) resin.


Related News

View all news

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......

Crisil downgrades DHFL's commercial papers worth Rs 850 crore

Credit Rating Agency Crisil has downgraded Dewan Housing Finance Corporation's commercial paper worth Rs 850 crore from A3+ to A4+. Its rating also continues to be on 'Rating Watch with Negative Implications'.......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......