The Tata group has 93 companies in its fold with interests across seven business sectors and revenues of $22 billion. ( Hindustan times)
Coke brings double fizz for Tatas
Tata Group reaped a gain of $523 million from its decision today to sell 30 per cent stake in Glaceau to the world's largest beverages company Coca-Cola.
Besides, Tata Tea's market value has risen more than Rs 1,400 crore (about 340 million dollars) as its share price soared 35 per cent since April 25 when reports of Coke's interest in Glaceau first came in.
Investors welcomed the group's decision to sell its stake for nearly double the August 2006 acquisition price of $677 million. Coca-Cola will acquire 100 per cent stake in Glaceau, also known as Energy Brands Inc, for $4.1 billion, valuing Tatas' stake at $1.2 billion.
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Ratan Tata to be Chairman of Energy Brands Inc - August 2006
Mr Ratan Tata will take over as Chairman of the US-based Energy Brands Inc in which the Tatas have picked up a 30 per cent stake for $677 million last week. Besides Mr Tata, Mr Krishna Kumar, Vice-Chairman, Tata Tea, would also be on the board.
Friday, May 25, 2007
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