Tata Global to sell about 20% in intl operations: FT

Tata Global beverages, the world's second-biggest tea group, is in talks to sell about 20% in its international operations to a strategic investor and expects to close a deal in the next few months, the Financial Times reported on Tuesday.

The move comes after the firm, which owns brands such as Tetley Tea and Eight O'Clock Coffee, failed to close a deal with private equity investors, the London-based newspaper said.
"There are quite a large number of strategic players who have come to us. So it's a process of carefully analysing what is a good fit and then moving further down the road," the paper quoted RK Krishna Kumar, Tata Global Beverages' vice chairman, as saying.
Financial sponsors may be brought on board, but they should be able to "make a contribution to what we set out to do," Kumar told to the paper.