International Business
Kraft to Acquire Remaining Stake in Moroccan Biscuit Maker
As part of its effort to grow in emerging markets, Kraft Foods will pay about $151 million to buy out National Investment Co.'s 50 percent stake in Moroccan-based cookie maker Bimo, which Kraft currently owns the remaining 50 percent stake in, Reuters said.
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As part of its effort to grow in emerging markets, Kraft Foods will pay about $151 million to buy out National Investment Co.'s 50 percent stake in Moroccan-based cookie maker Bimo, which Kraft currently owns the remaining 50 percent stake in, Reuters said. Bimo controls about 13 percent of the Moroccan cookie market.
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