July 5/New Delhi, India/Financial Times-- Godrej Consumer Products Limited will buy Hershey's 51% stake in JV Godrej Hershey Limited, following management differences in running the entity.

Hershey's will now operate on its own in India through a wholly owned subsidiary. The Godrej Group may choose to enter the chocolates category since a non-compete clause may not be applicable.

Lazard Capital has been appointed as the advisor to the deal.

 

From the July 6, 2011, Prepared Foods' Daily News.