Ratan Tata is looking out for a buyer for Cyrus Mistry's stakes
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Following Cyrus Mistry’s removal as Tata Sons Chairman, Ratan Tata is apparently looking for a partner that could buy out the Tata Sons stake held by Mistry’s family.
Bloomberg quoted sources saying the Tata family Trusts have contacted sovereign wealth funds and other long-term investors to see if they were interested in purchasing the Mistry family's stake if it became available.
The Trusts held preliminary talks with potential buyers of the about 18% Tata Sons stake as they prepare for a number of possible scenarios. Mistry's family doesn't currently plan to sell its holdings, the people told Bloomberg.
Tatas want to make sure the new investor is a friendly partner, if Mistry's family later decides to sell its stake in theTata Group holding company.
Tata Sons owns more than $65 billion worth of listed company shares, data compiled by Bloomberg show.
“Mistry is still considering his next steps and plans to make a decision on his response to the ouster in the next couple of weeks,” another person told Bloomberg.
Tata Sons owns major stakes in TCS andTata Motors . It controls Indian Hotels Co.
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Bloomberg quoted sources saying the Tata family Trusts have contacted sovereign wealth funds and other long-term investors to see if they were interested in purchasing the Mistry family's stake if it became available.
The Trusts held preliminary talks with potential buyers of the about 18% Tata Sons stake as they prepare for a number of possible scenarios. Mistry's family doesn't currently plan to sell its holdings, the people told Bloomberg.
Tatas want to make sure the new investor is a friendly partner, if Mistry's family later decides to sell its stake in the
Tata Sons owns more than $65 billion worth of listed company shares, data compiled by Bloomberg show.
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Tata Sons owns major stakes in TCS and
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