Friday, December 3

TATA

Tata taps wealth funds to buy out Shapoorji stake
TATA

Tata taps wealth funds to buy out Shapoorji stake

By Administrator_India Capital Sands The Tata group has reached out to several investors, including sovereign wealth funds, to raise funds to buy out the Mistry family’s stake in Tata Sons Ltd, two people directly aware of the ongoing negotiations said. N. Chandrasekaran, chairman of Tata Sons, is leading the talks with potential investors, the success of which will determine whether the bitter feud between the Tata group and its biggest minority shareholder, the Mistry family, ends, the people said, requesting anonymity. “Chandrasekaran has spoken to several potential investors, including a large European sovereign wealth fund," said one of the two people cited above. “The discussions are focused on the likely valuation and a possible exit map for the investors." ...