Lanka Milk Foods Sets Up Joint Venture With Tunip Agro India

Lanka Milk Foods Plc has set up a joint venture with India’s Tunip Agro Ltd. to process and export fruit-based beverages, according to a Colombo Stock Exchange filing.

Lanka Milk Foods invested 30.6 million Sri Lankan rupees ($279,000) and held a 51 stake in the venture, while Tunip made an initial commitment of 29.4 million rupees and held the balance 49 percent shares, the filing showed.

To contact the reporter on this story: Anusha Ondaatjie in Colombo at anushao@bloomberg.net

To contact the editor responsible for this story: Hari Govind at hgovind@bloomberg.net

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