ITC plans to buy MTR Foods, Eastern Condiments for $1.4 bn: Report

ITC is in talks with Norway's Orkla ASA to acquire a majority stake in its Indian businesses, MTR Foods and Eastern Condiments, for $1.4 billion, the Mint reported. Orkla reportedly planned to launch an IPO of its Indian business earlier. The company is exploring whether a private deal could yield a better valuation, the report said.