INDIA: Allied buys majority stake in JV with Clan Morgan
Allied Domecq (India) has said it intends to bring more brands into the Indian market, now quantitive restrictions have been lifted. The company has also increased its stake in its Indian joint venture with Clan Morgan Distillers Ltd from 50% to a majority share of 74%. CEO of Allied Domecq Spirits and Wines (India) ltd, Shreekanr Illuri told The Economic Times newspaper in India that its majority stake in Clan Morgan will enable the company to have a control over management as well as operations of the company.
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