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Our Bureau

Hyderabad , Jan. 6

AGRO Tech Foods Ltd (ATFL) has informed the stock exchanges that CAG Tech (Mauritius) Ltd has sold 4,99,831 shares aggregating 2.05 per cent of the total paid-up capital of the company on January 4.

Following this, the shareholding of CAG Tech (Mauritius) Ltd in ATFL stood at 1.2 crore shares, aggregating 49.24 per cent of the total paid-up capital of ATFL.

CAG Tech (Mauritius) Ltd had acquired 12.5 million shares of Rs 10 each of ATFL in October 1997, representing a 51.3 per cent stake in the company. The US-based ConAgra Foods Inc and South Africa-based Tiger Brands jointly held CAG Tech (Mauritius) Ltd in the ratio of 2:1.

ATFL has informed the stock exchanges that CAG Tech (Mauritius) Ltd has advised the company that for strategic reasons they have sold 2.05 per cent holding on the BSE and the NSE during the period December 20 last year to January 4 this year.

This will bring down the equity holding of CAG Tech (Mauritius) Ltd in ATFL from 51.3 per cent to 49.24 per cent.

Further, ConAgra Foods is also contemplating to increase its shareholding in CAG-Tech (Mauritius) Ltd pursuant to inter-promoter transfer of shares of CAG-Tech (Mauritius) Ltd between Tiger Brands and Con-Agra Foods Inc, the company said.

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