INDIA: Allied Blenders & Distillers, Tilaknagar Industries in merger talks - report
The two Indian firms are said to be in talks over a merger
India's Allied Blenders & Distillers (ABD) is in talks with its rival, Tilaknagar Industries, over a possible merger, according to local reports.
ABD, owner of India’s top-selling whisky brand, Officer’s Choice, has discussed creating a combined US$1bn entity with Tilaknagar, unnamed sources have told The Times of India this week. Last month ABD said it was looking to raise $100m through a private equity tie-up.
The company is 95%-controlled by Kishore Chhabria, with the rest owned by the company’s executive vice-chairman & CEO, Deepak Roy.
Publicly-listed Tilaknagar is 56%-owned by The Dahanukar family. Its Mansion House brand is the world's second-largest selling brand behind McDowell's.
The talks are preliminary and there is no certainty of a deal, the source was reported as saying.
Both companies have yet to respond to an emailed request for comment from just-drinks.
Separately, Diageo this week kicked-off a public share offer for 26% of United Spirits, as it seeks to gain majority-control of the Vijay Mallya-headed firm.
Two entities expressed "serious interest" in buying collapsed wholesaler Waverley TBS after it called in administrators last year, it has emerged. ...
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