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Scottish & Newcastle FDI proposal approved

NEW DELHI: Scottish & Newcastle Plc on Wednesday received the Centre's nod to bring in a foreign direct investment of Rs. 83.33 crores to increase its holding in the Indian arm from 40 per cent to 50 per cent. Alongside, the Mauritius-based Jardine Fleming also obtained the Government's approval to invest Rs. 22 crore as FDI in JP Morgan Pvt. Ltd. to set up an asset management company. These two ventures are among the 35 FDI proposals worth over Rs. 183 crore approved by Finance Minister Chidambaram.

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