INDIA: Tata Global Beverages to raise funds via Tetley stake sale - report
Tata Global Beverages is planning to raise US$200m from private equity investors
Tata Global Beverages (TGB) is planning to raise US$200m from private equity investors by selling a stake in its UK-based Tetley business, according to reports.
The company is considering selling up to 12% of Tetley, India's Economic Times newspaper reported today (10 November), citing two unidentified sources.
If confirmed, the sale could help Tata Global to raise funds for its push into soft drinks.
Tata Global Beverages has formed a joint venture with PepsiCo to focus on non-carbonated, ready-to-drink beverages in the health and "enhanced wellness" categories.
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