Allied Blenders to Sell 12% Stake to TPG, Carlyle
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.