Staying private: Tata Sons, SP step up peace talks

Regulator not averse to Tata Sons' upper layer NBFC exit if parties agree

- FE BUREAU

THE TWO MAJOR shareholders of Tata Sons—Tata Trusts and the Shapoorji Pallonji (SP) group—are believed to be in advanced talks to hammer out an exit route for the latter.

"Listing of Tata Sons, which the SP group had demanded, is certainly not an option. Both side are looking at other routes through which SP can have at least a partial exit from its 18.6% stake position in Tata Sons," sources familiar with the developments said, without divulging details.

BATTLING DEBT ISSUES, the SP group has been insisting on a public share sale to monetise its stake, which the Tatas have declined. Ahead of the annual general meeting on August 14 this year, Tata Sons chairman N had met Chandrasekaran Shapoor Mistry, the chairman of the SP group, to discuss the way forward. This was immediately after the Noel Tata-led Tata Trusts directed the Tata Sons chairman to considerall options so that the holding company of the Tata group stays private. The Trusts also asked him to facilitate SP group's exit from the group. There have been several rounds of talks between the two since then on a viable route.