Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, has bought a majority stake in an Indian basmati rice company for more than $100m, it was reported on Wednesday.
Hindu Business Line said Hassad Food had bought the stake in Bush Foods Overseas Ltd which sells basmati rice under the ‘Neesa’ brand.
“This is a strategic partnership with Hassad Food which is part of Qatar’s sovereign fund,” Bush Foods Managing Director and CEO Virkaran Awasty was quoted as saying.
Read more: http://www.arabianbusiness.com/qatar-s-hassad-buys-stake-in-indian-rice-firm-496560.html
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