France's Lactalis buys India's Tirumala Milk Products

MUMBAI Tue Jan 7, 2014 10:31pm EST

MUMBAI Jan 8 (Reuters) - French dairy group Groupe Lactalis SA has acquired a 100 percent stake in India's Tirumala Milk Products Pvt Ltd, in which private equity firm Carlyle Group held a 20 percent stake, the companies said on Wednesday.

The financial details of the deal were not disclosed but sources with direct knowledge told Reuters on Tuesday that the value of the transaction is between $250 million and $300 million.

Barclays was financial adviser to Tirumala, while Rothschild was financial adviser to Lactalis.

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