INDIA: Nestle to trump Tata in Himalayas? – report
Nestle Waters is looking to buy an Indian water brand, according to local reports.
The Economic Times claims today (16 April) that Nestle will bid on Himalayan Water, despite Indian conglomerate The Tata Group being poised to buy a major stake in the brand's manufacturer. Tata is set to buy a stake in Mount Everest Mineral Water for INR2bn (US$47.9m), the paper claims.
Following the expiry of Tata's non-disclosure pact with Himalayan's promoters on 31 March, the Indian water company is now able to commence negotiations with other suitors, the paper noted.
When contacted by just-drinks today, a spokesperson for Nestle Waters declined to comment on the reports.
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