Ruchi Soya Industries, an Indian edible oil company, has formed a Joint Venture (JV) with Japanese tomato processing company Kagome Co. Ltd and Mitsui & Co. Ltd..Khaitan & Co. advised Kagome with a team led by Mumbai based Partner Vaishali Sharma while Trilegal advised Mitsui with a team led by Delhi Partner Charandeep Kaur..DSK Legal advised Ruchi Soya with a team led by Mumbai based Partner Ajay Shaw..According to Business Line, Ruchi Soya will hold 40 per cent stake in the JV. The rest will be held by a special purpose company (SPC) formed by Kagome and Mitsui. Kagome will hold 66.7 per cent stake in the SPC and Mitsui will hold 33.3 per cent..The first processing unit will be set up in Maharashtra with an initial investment of Rs. 44 crore and commercial production will begin by June 2014..The JV plans to launch premium tomato purees, sauces, ketchups and other world-class products in India, reports Business Standard..Image taken from here
