India’s LT Foods has scrapped its planned takeover of Global Green Europe after the Hungarian government blocked the transaction. In a stock exchange disclosure, the owner of the Royal and Daawat basmati rice brands said a 28 January decision by Hungary’s Ministry of National Economy had resulted in the termination of the deal. The Ministry rejected the proposal citing “identified national economic and sectoral risks”, according to the filing. “Accordingly, the proposed transaction stands withdrawn and ...