Photo: Bloomberg
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Tata Group's Talks Over $1 Billion Bisleri Stake Stall Over Valuation
The Indian conglomerate had been in advanced discussions to take control of Bisleri and the parties were working on finalizing the structure of a transaction, the people said
Topics
Tata group | Stake sale | Parle
Tata Group’s talks for a majority stake in Bisleri International Pvt, one of India’s largest bottled water makers, have stalled over valuation, according to people familiar with the matter.
The Indian conglomerate had been in advanced discussions to take control of Bisleri and the parties were working on finalizing the structure of a transaction, the people said. Bisleri’s owners were looking to raise about $1 billion from a deal, the people said. Negotiations later hit a snag as the companies were unable to agree on a valuation, said the people, who asked not to be identified as the information is private.
Discussions between Tata and Bisleri could still resume, and other potential suitors may emerge, the people said. Representatives for Tata and Bisleri declined to comment.
Bisleri traces its roots to 1949 when Shri Jayantilal Chauhan founded soft drinks maker Parle Group, which acquired Bisleri from an Italian entrepreneur in 1969, according to its website. It said it has a 60% share in India’s bottled mineral water market. The company also manufactures hand sanitizer. Bisleri was in talks to sell a stake to Tata, Bisleri Chairman Ramesh Chauhan said in a local television interview in November.
For Tata Group, acquiring Bisleri could have expanded its portfolio of bottled water brands in India. One of the conglomerate’s listed units, Tata Consumer Products Ltd. owns the Himalayan Natural Mineral Water and Tata Water Plus brands.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, March 01 2023. 07:43 IST
RECENT NEWS
JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity
JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more
Private Equity And Banks: The Complex Web Of Leverage
Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more
Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector
The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more
JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism
In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more
Big Banks Vs. Regional Banks: The Battle For Market Share
The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more
The Evolution Of Philanthropic Advisory Services In Private Banks
The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more