date:Apr 08, 2014
Japanese ingredients company Ajinomoto has signed a joint venture (JV) agreement with Toyo Suisan Kaisha to establish instant noodle operations in Nigeria and India.
The parties intend to set up new companies in both countries.
To be operated as Maruchan Ajinomoto Nigeria, the Nigerian JV will have JPY2bn in capital and will manufacture instant noodles.
Ajinomoto will hold 50% share, West African Seasoning will own 1%, while Toyo Suisan Kaisha will have the remaining 49% stake in the JV.
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