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ANZ Investment Bank to advise government on Modern Foods

ANZ Investment Bank has been appointed as the sole global advisor for the divestment/strategic sale of the Government of India's stake in Modern Foods Industries (India) Limited, one of the largest food processing companies in India.

This is the first mandate of its kind awarded by the GoI. As the global advisor, ANZ Investment Bank will be instrumental in examining both restructuring options for Modern Foods and in the potential search for an international investor/partner.

The mandate has been awarded against stiff competition from eight other domestic and international investment banks and consultancy firms. It represents further initiative for ANZ Investment Bank's global corporate finance, combining extensive ground presence in India with cross-border skills internationally, according to the bank's media statement.

UNI