Keventer Agro: acquires 50 percent stake in Candico

Kolkata / IN. (div) Indian Keventer Agro has snapped up a 50 percent stake in confectionery maker Candico Limited. The enterprise value of the deal has been estimated at 100 crore INR (1’000’000’000 INR = 16’172’463,147 EUR according to Interbank on 2010-10-12). Mayank Jalan, managing director of Keventer, has been appointed joint managing director of Candico, based in New Delhi (IN). Sanjeev Kumar, the promoter of the confectioner, will remain chairman and managing director.