INDIAN CONGLOMERATE
Tata Sons considers ways to lift stakes in key listed units
Incoming chairman Natarajan Chandrasekaran’s priority will be to protect the group from potential takeover threats
Mumbai — India’s Tata Group, seeking to cement control over a sprawling $100bn business empire, is exploring ways to boost its stakes in key listed companies including the maker of Jaguar luxury cars, people with knowledge of the matter said. Tata Sons, the group holding company, planned to raise its ownership in five of its largest businesses including Tata Motors and Tata Steel, according to the people, who asked not to be identified because the information is private. A key priority for incoming Tata Sons chairman Natarajan Chandrasekaran, who takes charge in February, would be to prepare a plan to protect group companies from potential takeover threats, the people said. Chandrasekaran has been tasked with ensuring the group has sufficient power over major listed companies using the Tata brand, according to the people. India’s largest conglomerate aimed to gradually increase its holdings in Indian Hotels, which runs the Pierre in New York, as well as Tata Chemicals and Tata Power...
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