Who moved my milk: Prabhat Dairy and the ‘business disappearing’ risk2 min read . Updated: 23 Jan 2019, 10:00 AM IST
- Prabhat Dairy's current market value is 55% lower than the sale consideration for its core business
- It remains to be seen if investors gang up and vote against the deal. Similar past deals have resulted in wealth erosion
Investors skimmed 15% off Prabhat Dairy Ltd’s valuation after it announced a slump sale of its mainstay dairy business on Tuesday. The company will sell its milk processing business, which generates 98% of its revenue, to France’s Groupe Lactalis for ₹1,700 crore.
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