Tata Consumer Said to Mull Bid for Coffee Day’s Vending Unit
- Tata Consumer’s board has approved proposal to explore a deal
- Coffee Day seeks valuation of $271 million for the business
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Tata Consumer Products Ltd. is weighing a non-binding bid for the vending machine business of Coffee Day Enterprises Ltd., according to people familiar with the matter.
The board of Tata Consumer Products has approved a proposal to explore an acquisition of the operation from Coffee Day, said one of the people, who asked not to be identified as the information is private. Coffee Day is seeking a valuation of about 20 billion rupees ($271 million) for the vending machine business, another person said.