It was reported in September that the American company Coca-Cola wanted to sell its 40% stake in its subsidiary, Hindustan Coca-Cola Beverages, to unlock the company’s value. The report also mentioned that Coca-Cola was in talks with four major business houses.
Promoters of the Jubilant Bhartia Group, Shyam and Hari Bhartia, are planning to acquire a 40% stake in Hindustan Coca-Cola Beverages (HCCB). They require an amount of Rs 12,500 crore and are in talks with foreign banks, asset managers, and mutual funds to secure the funding.
It was reported in September that the American company Coca-Cola wanted to sell its 40% stake in its subsidiary, Hindustan Coca-Cola Beverages, to unlock the company’s value. The report also mentioned that Coca-Cola was in talks with four major business houses.
The news came out when Reliance Industries chairman Mukesh Amabni is offering better margins to retailers to promote Campa Cola in the market. Amid cola war, Ambani’s strategy has started working on the ground to enhance its presence on the shelves of Kirana stores.
According to a report published in the Economic Times, the Bhartia Group is trying to secure approximately Rs 4,000-5,000 crore and is in talks with Apollo Global Management, Ares Management, Kotak Alternate Asset Managers, and Ben Capital.
Shamit Bhartia of Jubilant Industries is leading the negotiations. Coca-Cola is in talks with four major business houses: Jubilant Foodworks, Dabur Group, Pidilite Industries, and Asian Paints. However, none of these companies has released an official statement regarding the matter.