Tata Tea boils on buzz of Coke's interest in Glaceau
Wednesday, April 25, 2007Tata Tea had bought 30% stake in Glaceau for $677 million in August 2006. Tata Tea had valued Glaceau at $2.2 billion.
Quoting sources, Beverage Digest said negotiations are going on and that some points of the deal still needed resolving. The newsletter also said sources suggested that Coke may want to announce the deal when its North American bottlers meet in Atlanta next month, or right before. The valuation of Glaceau is rumoured at $3 billion, up from a mere $2.2 billion just 8 months ago.
Coke is now focusing on non-carbonated beverages.
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