New York, May 25 (PTI) Soft drink giant Coca-Cola today announced it will acquire US energy drink maker Glaceau, in which India's Tata Group has 30 per cent stake, for 4.1 billion dollars in cash.
The Atlanta-based world's largest aerated drinks firm said in a statement it has reached an agreement with Energy Brands, Inc, also known as Glaceau, for the acquisition.
Tata Tea had acquired a 30 per cent stake in Glaceau, which has an annual turnover of 355 million dollars, in August last year for 677 million dollars.
At the time of the transaction, Tata Group had projected Glaceau's annual revenue to nearly double to 700 million dollars in 2007.
Based on the price of Tatas' acquisition, New York-based Glaceau could be valued at close to 2.25 billion dollars. The acquisition price of 4.1 billion dollars represents a significant premium to the price paid by Tata Group. PTI
Source : http://www.ptinews.com/pti%5Cptisite.nsf/$All/2F429FF419562250652572E6003D3B2E?OpenDocument
The Atlanta-based world's largest aerated drinks firm said in a statement it has reached an agreement with Energy Brands, Inc, also known as Glaceau, for the acquisition.
Tata Tea had acquired a 30 per cent stake in Glaceau, which has an annual turnover of 355 million dollars, in August last year for 677 million dollars.
At the time of the transaction, Tata Group had projected Glaceau's annual revenue to nearly double to 700 million dollars in 2007.
Based on the price of Tatas' acquisition, New York-based Glaceau could be valued at close to 2.25 billion dollars. The acquisition price of 4.1 billion dollars represents a significant premium to the price paid by Tata Group. PTI
Source : http://www.ptinews.com/pti%5Cptisite.nsf/$All/2F429FF419562250652572E6003D3B2E?OpenDocument
