Malaysian tycoon Robert Kuok buys KTV Oil Mills for Rs 80 cr
NEW DELHI: Billionaire Robert Kuok has acquired KTV Oil Mills, a large edible oil company in South India, to introduce imported oil under its own international brand name. The deal, worth around Rs 80-crore, is the second-largest in the sector, after Bunge took over HLL's Dalda. But don't think of the buyers as barbarians at the gate.
Foreign capital is bringing with it the much-needed muscle and deep pockets that are vital for staying power in a fickle business like food. Asian tycoons are making strategic investments in India's food industry as they know it is the sure-fire money-spinner of the future.