UB Group bids for Taittinger

UB Group bids for Taittinger

Vijay Mallya-controlled UB Group has reportedly offered nearly £400 million for a possible acquisition deal for Taittinger.

Taittinger is the world’s sixth-largest champagne company and as per incoming sources, the bid was placed last week.

UB Group is said to be using the advising services of Standard Chartered Bank for this deal. Though the company has declined to officially release a statement on these market rumors.

Starwood Capital of the US is the current owners of this company, which they acquired in July last year. Taittinger sells around 4.5 billion bottles of champagne and wine a year across the globe and this can be a great resource to expand in the global market for UB Group.

Some other bidders for this company include names like the Taittinger family, backed by Crédit Agricole; CVC Partners, the private equity group and Freixenet, the Spanish drinks group.