Tata Group’s move to acquire Bisleri International Pvt., as per November reports, has reportedly stalled as per latest developments. Bisleri, the country’s largest bottled water firm may not be immediately acquired by Tata Consumer over some issues.
According to a Bloomberg report, Tata Group’s discussions to acquire a majority stake in Bisleri have halted over valuation concerns. It adds that while Bisleri’s owners were looking to raise about $1 billion from this deal, negotiations stalled as both Tata and Bisleri were unable to agree on a valuation.
All this reportedly happened at a time when both Bisleri and the Tata Group were working on finalising a structure of the transaction.
However, the publication adds that this may not be the end of the infamous Bisleri and Tata deal as the discussions may resume if a way out is found. It reads, “Discussions between Tata and Bisleri could still resume, and other potential suitors may emerge, the people said. Representatives for Tata and Bisleri declined to comment.”
As mentioned before, talks of the Tata Group acquiring Bisleri were mainly centred for Tata Consumer Products Ltd. (TCPL). The group’s listed unit already owns the Himalayan Natural Mineral Water and Tata Water Plus brands, and acquiring a majority stake in Bisleri could have further diversified the company’s portfolio.
Before this, when the deal between Tata Group and Bisleri was announced in November, media reports also stated that the current management of Bisleri was expected to continue for almost two years.
