Mcdowell buys Taittinger's wine arm for Rs 86 cr

Mcdowell has acquired Bouvet Ladubay SAS, the wine subsidiary of French champagne major Taittinger for over Rs 86 crore.

The acquisition was made by the company's Mauritius-based wholly owned subsidiary, Asian Opportunities and Investments and was funded from proceeds of the GDR issue and through internal accruals. Necessary agreements had been signed earlier for the conclusion of the transaction.