Conagra Brands To Divest Its 51.8% Ownership Stake In India-based Agro Tech Foods

(RTTNews) - Conagra Brands, Inc. (CAG) announced Thursday that one of its subsidiaries has entered into a definitive agreement with funds advised by Convergent Finance and Samara Capital to divest its 51.8% ownership stake in Agro Tech Foods Ltd.

Agro Tech Foods is a food company based in Mumbai, India, and listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals.

The transaction is expected to be completed by the end of calendar year 2024. Upon the close of this agreement, Conagra Brands will no longer consolidate the results of Agro Tech Foods in its financial statements.