The deal, which could be signed by the end of the year, would value the company at around €220m, the French paper said, citing industry sources as well as Indian media reports. A spokesman for Lactalis had declined to comment on the report.
Founded in 1998, Hyderabad-based Tirumala Milk Products is one of the largest dairy processors in southern India. Private equity company Carlyle, which owns a 20% stake, would sell its holding, Los Echos said.
Tirumala’s four founders, who own a combined 80% stake, would sell 50%, resulting in Lactalis owning 70%.
The French paper said that Tirumala had also attracted interest from Danone.
Source: Les Echos
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