Tata Global Beverages Gets Approval to Buy Out Russian Tea Unit
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.
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