France's Lactalis buys Tirumala Milk Products

French dairy group Groupe Lactalis SA has acquired a 100 per cent stake in Tirumala Milk Products Pvt Ltd, in which private equity firm Carlyle Group held a 20 per cent 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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