Tata Global Beverages (TGB), owner of UK's Tetley Tea and US's Eight O'Clock coffee, is in talks to sell about 20% stake in its international operations to a strategic investor, the Financial Times, London, reported on Tuesday.
The report said Tata Global Beverages, the world's second largest tea-maker, expects to conclude a deal in the next few months. The report also quotes Tata group vice-chairman RK Krishna Kumar as saying that "financial sponsors may be brought on board, but they should be able to make a contribution to what we set out to do."
Reacting to the Financial Times London report, a TGB spokesperson was quoted in media reports including Dow Jones as saying that no specific proposals have been placed before the company's board to sell a stake in the business to a strategic investor. "To achieve the ambitious growth plans of Tata Global Beverages, we are always evaluating options for the best way to invest in innovation, growth of our brands and acquisitions," a company spokesman was quoted as saying.
The report said Tata Global Beverages, the world's second largest tea-maker, expects to conclude a deal in the next few months. The report also quotes Tata group vice-chairman RK Krishna Kumar as saying that "financial sponsors may be brought on board, but they should be able to make a contribution to what we set out to do."
Reacting to the Financial Times London report, a TGB spokesperson was quoted in media reports including Dow Jones as saying that no specific proposals have been placed before the company's board to sell a stake in the business to a strategic investor. "To achieve the ambitious growth plans of Tata Global Beverages, we are always evaluating options for the best way to invest in innovation, growth of our brands and acquisitions," a company spokesman was quoted as saying.
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