IL&FS Transportation arm Elsamex files for bankruptcy in Spain

IL&FS Transportation arm Elsamex files for bankruptcy in Spain Mumbai, Jan 25 (PTI): IL&FS Transportation Networks has said its subsidiary Elsamex SAU Spain, which is into roads, has initiated a voluntary insolvency proceedings in that country following liquidity issues and the latest court resolution. "After the analysis, the board of directors of Elsamex have unanimously agreed for initiation of voluntary insolvency proceedings in Spain," ITNL said in a filing to exchanges Friday.

IL&FS Transportation is a market leader in the transport infra sector in the country and has a strong international footprint covering Spain, Portugal and Latin America following the acquisition of Elsamex, a Spanish highway operations and maintenance and allied services provider company. *************** Mondelez enters chocobakery segment Chocolate and confectionery firm Mondelez India has entered into the chocbakery segment with the launch of Oreo Cadbury Dipped.

After Oreo and Bournvita Biscuits, the launch of Oreo Cadbury Dipped will certainly open up interesting avenues in the snacking domain. Chocobakery is an active segment in the biscuit category and we want to establish a strong presence in this," Mondelez India's biscuits category head Sudhanshu Nagpal told PTI. As per a Nielsen report, the biscuits category is around Rs 35,000 crore and Mondelez has a market share of a paltry 1.6 percent.

******* Korean lifestyle brand Mumuso eyes Rs 1000-cr biz by 2022 Korean lifestyle brand Mumuso aims to clock a business of Rs 1,000 crore by 2022, as it plans to open over 300 outlets in the country. The company had opened its first store in Kolkata five months ago and the second outlet in Mumbai Friday and plans to expand to other big cities soon.

"Our expansion strategy is to set up 300 plus outlets by mid-2022 and get a revenue of Rs 1,000 crore. This also includes our plan to enter e-commerce business with online shopping," Mumuso India said..