MUMBAI, Feb 23 (Reuters) - Commodities trader Sakuma Exports has submitted an expression of interest to acquire leading Indian edible oil importer and retailer Ruchi Soya , it said on Friday.
Ruchi Soya is in the midst of an insolvency resolution process with India’s National Company Law Tribunal (NCLT)
The proposed acquisition would allow Sakuma to enter the retail market using Ruchi Soya’s existing distribution network, said Sakuma managing director Saurabh Malhotra.
Sakuma Exports mainly trades in agricultural commodities such as sugar, corn, cotton and edible oils.
Malaysia’s Sime Darby Plantation, the world’s largest oil palm planter by land holdings, has also expressed interest in Ruchi Soya. (Reporting by Rajendra Jadhav; Editing by David Goodman)