StanChart PE invests Rs 165 cr in Varun Beverages
Standard Chartered Private Equity on Monday said it has invested USD 32 million [Rs 165 crore] in Varun Beverages [International] Ltd, the largest bottler for PepsiCo in South Asia. It plans to use the funds for the buyout of Pepsi’s minority stake in its subsidiary, Varun Beverages Ltd, the company said in a statement. Post the buyout, the company’s Indian beverage business will be consolidated into Varun Beverages [International]. ‘Broadening of the company’s capital base shall enable the company to implement its capex plans, enhance capacities and penetrate new geographies,’ Varun Beverages International chairman Ravi Jaipuria said.