Britannia, Danone may wrestle in Singapore court
Britannia, Danone may wrestle in Singapore court The partnerts of Britannia Industries, Nusli Wadia Group and Groupe Danone, could be headed to the Singapore court to settle their dispute over the Tiger brand biscuit, reports Economic Times. It is said that Britannia Industries, is instituting legal proceedings against the French multinational partner Danone in a Singapore court for a speedy resolution of the dispute. The reason for choosing Singapore as location for a courtroom tussle may be driven by the fact that Danone operates significant business in South-East Asian markets, especially in Indonesia, under the Tiger brand. Britannia, could be pushing for a fast ruling in a Singapore court as Danone i s now in the process of selling its global biscuit business to the US behemoth Kraft Foods. >The Tiger dispute originated between the two partners when Britannia alleged that Danone had moved for registering the brand in over 70 countries across the world without its permission or knowledge.
Tiger biscuits account for about 20% of Britannia`s annualized revenue, and has been the company`s key growth driver since the late 90s.
Shares of the Britannia declined Rs 6.40, or 0.42%, to end at Rs 1,515.5. The total volume of shares traded was 4,803 at the BSE (Wednesday).
