InvestorQ : Is it true that Modern Foods is once again changing ownership?
diksha shah made post

Is it true that Modern Foods is once again changing ownership?

Answer
user profile image
Niti Shenoi answered.
3 months ago


Modern Foods, it may be recollected, was the first government owned entity to be privatized by the government of India. At that time the first public sector undertaking (PSU) to be privatised, is again set to change hands, the third occasion it will have a new owner. The first shift came in 1997 when the government of India sold Modern Foods to Hindustan Unilever. Then in 2015, Hindustan Unilever sold the company to Singapore based Everstone Capital. Now, after a gap of 5 years, Everstone Capital has given the mandate to Investec for the sale process. It is likely to be a profitable exit for Everstone, although the returns were not up to the expectations that Everstone had.