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Tatas gauging interest of potential buyers for Mistry stake in Tata Sons

Tata group is assessing interest of possible partners who would be interested if and when Shapoorji Pallonji group would like to sell of their around 18 percent stake in Tata Sons.


Tatas gauging interest of potential buyers for Mistry stake in Tata Sons
A file picture of Cyrus Mistry with Ratan Tata

Zee Media Bureau

Mumbai: Tata group is assessing interest of possible partners who would be interested if and when Shapoorji Pallonji group would like to sell of their around 18 percent stake in Tata Sons.

Bloomberg reported that people with knowledge of the matter said.

The report added that Tata family Trusts have reached out to sovereign wealth funds and other long-term investors to gauge their interest in purchasing the Mistry family's stake if it became available.

The Trusts held preliminary talks with potential buyers of the about 18 percent Tata Sons stake as they prepare for a number of possible scenarios, Bloomberg report added.

According to sources, the family Trusts would like to ensure that as and when Mistry's family is available for sale, the stake should go to the investor who is friendly and shares their long-term vision. Tata Sons owns more than $65 billion worth of listed company shares, data compiled by Bloomberg show.

The Tata trusts, currently own about 66 percent of Tata Sons, are also planning on raising funds, to buy the stake themselves, when the opportunity arises.

 

 

 

 

 

 

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