Al­lied Blenders to Sell 12% Stake to TPG, Car­lyle

The Economic Times - - Companies -

Al­lied Blenders & Dis­tillers (ABD), which owns the largest sell­ing mass­whisky Of­fi­cer's Choice, plans to di­vest up to 12% of its stake to two over­seas PE play­ers — TPG and Car­lyle Cap­i­tal — for $250 mil­lion to fund its ex­pan­sion and growth through buy­outs. The com­pany, pro­moted by Kishore Ch­habria of the Shaw Wal­lace fame, has also re­it­er­ated its in­ten­tion to pur­sue its talks with Ti­lak­na­gar In­dus­tries, de­spite the fact talks are stuck on val­u­a­tions. “We have term sheets from Car­lyle and TPG. We will sign them as and when the Ti­lak­na­gar deal is done. We are look­ing at rais­ing $200-275 mil­lion in part eq­uity and debt and are ready to di­vest up to 10-12% to them,” vice-chair­man and chief ex­ec­u­tive of­fi­cer Deepak Roy said.

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