New Delhi, Jun. 30 - The UB Group may acquire a wine company in Europe for EUR500 million, the Business Standard reported Friday, citing unnamed sources in the Indian beer and spirits maker.
The paper said UB has shortlisted three companies, including Bouvet-Ladubay, a subsidiary of champagne house Taittinger.
"The acquisition of one of them may happen soon," the sources said, according to the paper.
UB has tied up with a consortium of banks led by Standard Chartered Bank for funding any possible acquisition, while PricewaterhouseCoopers is engaged in doing due diligence of the target companies, the paper said.
UB may also raise $150-$250 million through overseas convertible bonds, according to the paper.