Tata Group’s acquisition of Bisleri International Pvt. appears to have halted: Reports
As per recent events, Tata Group’s acquisition of Bisleri International Pvt. appears to have halted. Bisleri, the country’s largest bottled water manufacturer, may not be bought by Tata Consumer immediately due to several issues.
According to Bloomberg, Tata Group’s negotiations to acquire a majority stake in Bisleri have halted due to valuation concerns. It goes on to say that while Bisleri’s owners were hoping to raise around $1 billion from the deal, negotiations fell through because Tata and Bisleri couldn’t agree on a valuation.
All of this apparently happened as Bisleri and the Tata Group were trying to finalise the transaction’s structure.
But the publication notes that the infamous Bisleri and Tata deal may not be over, as conversations may restart if a solution is discovered. “Discussions between Tata and Bisleri may yet restart, and other prospective suitors may emerge,” it says. Tata and Bisleri representatives declined to comment.”
As previously mentioned, the Tata Group’s interest in acquiring Bisleri was primarily focused on Tata Consumer Products Ltd. (TCPL). The group’s publicly listed unit already owns the Himalayan Natural Mineral Water and Tata Water Plus brands, and purchasing a majority stake in Bisleri may have broadened the company’s portfolio even further.
Prior to this, when the deal between Tata Group and Bisleri was announced in November, media sources suggested that Bisleri’s present management would be retained for nearly two years.
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