Tata Global Beverages Gets Approval to Buy Out Russian Tea Unit
By Marina Sysoyeva -
2012-04-03T09:33:23Z
Tata Global Beverages Ltd. (TGBL), the maker of Tetley tea and a unit of India’s second-largest industrial group, got regulatory approval to buy out its Russian tea unit from a partner in that country.
Russia’s Anti-Monopoly Service allowed the Indian company’s Kahutara Holdings unit to raise its stake in Suntyco Holding Ltd. to 100 percent from 51 percent, according to a document on the regulator’s website.
Suntyco sells more than 45 percent of the tea and freeze dried coffee in Russia, Vedomosti said today.
To contact the reporter on this story: Marina Sysoyeva in Moscow at msysoyeva@bloomberg.net
To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net
Sponsored Link
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.