Danone may acquire Catch and Aava

French food company Groupe Danone has shortlisted acquisition targets in the Indian bottled water market, including DS Group’s Catch and Sheelpe Enterprises’ Aava.
Danone, which also imports its Evian water brand in India, has been reported to be keen on increasing its presence in the beverages and dairy business in India, which are growing quickly on the back of rising incomes and the expansion of modern trade.
Danone has a stake in India’s top biscuit maker Britannia Industries Ltd.

PepsiCo Inc.’s Aquafina, Mount Everest Mineral Water’s Himalayan and Coca-Cola’s Kinley also compete in the market for bottled water, which is estimated at Rs20 billion.

Decision on PepsiCo's stake dilution deferred

The Foreign Investment Promotion Board (FIPB) today deferred a decision on beverages firm PepsiCo's application seeking exemption from regulations to divest 49% stake in its bottling arms to Indian shareholders.

PepsiCo India had asked the government to waive the condition that recquires it to reduce its stake in bottling subsidiaries to 51% within five years.

As per the regulations, the global soft drinks major has to reduce its equity this year in Kools Drinks Beverages, which it acquired in 2002.