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Tata Tea in talks with US cos for biz prospects

Our Bureau

Mumbai , Sept. 15

TATA Tea on Thursday said that it has been "looking aggressively for opportunities in the US."

As part of it, the company has initiated dialogue with a number of prospective companies.

"However, talks are still in the discussion stage and nothing specific or concrete has materialised at this point of time.

"Considering that we are still at an early stage of discussions, it would be premature to comment on the scope of such an activity, and identify a timeframe in which something will fructify," an official statement said quoting Mr Percy T. Siganporia, Managing Director, Tata Tea.

The statement on the company looking out for "step change growth" through mergers, acquisitions and strategic alliances followed a newspaper report that it was close to some acquisitions in the US.

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