Major business ventures exited under Ratan Tata
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Major business ventures exited under Ratan Tata

Last Updated: Thursday, December 27, 2012, 15:02
 
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Major business ventures exited under Ratan Tata
Ratan Tata, chairman of the Tata Group who steps down Friday, also had the uncanny ability to know when to enter a new business and, more importantly, exiting an existing one. List of such deals:

1994: Sells Tata Oil Mills (Tomco) to Hindustan Unilever

1997: Lakme brand and assets sold to Hindustan Unilever

1998: Group's pharma company Merind sold to Wockhardt

1998: Voltas demerges its white goods and domestic refrigerator segment into a joint venture controlled by Electrolux

1999: Tata Group sells its 7.2-percent stake in Associated Cement Companies (ACC) to Ambuja Cement Holdings, a subsidiary of Gujarat Ambuja Cements (GACL)

2000: Tata Group exits cement business, selling their remaining stake in ACC to the GACL group

2005: Tata exits Idea Cellular -- venture that included the Aditya Vikram Birla Group and the US-based AT&T to focus on CDMA-based mobile telephony business.

IANS


First Published: Thursday, December 27, 2012, 15:02


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