Tata Global Beverages sells 20% stake

Posted By: Religare
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Tata Global Beverages sells 20% stake
Tata Tea Ltd, rechristened as Tata Global Beverages, has announced the sale of its 20% stake in international operation to unknown strategic investor.

As reported, the deal is going to be closed in the coming months.

The company failed to complete negotiation with private equity investors for raising money for business expansion.

While Tata Tea is the largest tea brand in India, Tetley is the largest tea company in the United Kingdom and Canada and the second largest in the United States by volume.

Tata Global Beverages Ltd. was up on BSE by 0.86% to Rs. 93.85. 

Story first published: Wednesday, June 8, 2011, 10:30 [IST]
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