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Thai Union Group updates on investment in Avanti Feeds Limited

Posted On: 2018-07-12 23:11:21

We understand the concerns expressed by some investors on the continuity of the investment by Thai Union Group in Avanti feeds Limited on long term basis. We would like to reiterate that AFL is a long-term strategic associate and partner of Thai Union Group (TU) in India. To address the concerns of the investors, we are pleased to issue the following "Statement" which may be communicated to the investors thru appropriate channels in India.

"Avanti Feeds Limited (AFL) is a long-term strategic associate and partner of Thai Union Group (TU) in India. TU endeavors to further strengthen this association by continued joint investments and shared expertise in areas of interest for both TU and AFL, including aquaculture, shrimp processing, and related activities. TU is committed to consistently maintaining its AFL shareholding in a range between 20% and 25%. Additionally, TU plans to continue investing in the shrimp processing joint venture, Avanti Frozen Products, expanding its shrimp and shrimp-based added value product portfolio, and strengthening its quality processes and leadership in Indian exports to US, Europe and Asia. Avanti Feeds is a valued strategic partner and an integral part of TU's manufacturing network and diversification strategy".

Shares of AVANTI FEEDS LTD. was last trading in BSE at Rs.449.05 as compared to the previous close of Rs. 458.8. The total number of shares traded during the day was 83268 in over 3029 trades.

The stock hit an intraday high of Rs. 463.65 and intraday low of 445.15. The net turnover during the day was Rs. 37847939.


Source: Equity Bulls

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