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Standard Chartered Invests in Varun Beverages

Private equity arm of Standard Chartered Plc has invested $32 million in India’s Varun Beverages, which is the largest bottler for PepsiCo Inc. in South Asia, the companies said in a joint statement. The funds would be used to buy out PepsiCo’s minority stake in Varun Beverages’ subsidiary, the statement said.

(Reuters) – Private equity arm of Standard Chartered Plc has invested $32 million in India’s Varun Beverages, which is the largest bottler for PepsiCo Inc in South Asia, the companies said in a joint statement.

The funds would be used to buy out PepsiCo’s minority stake in Varun Beverages’ subsidiary, the statement said.

The transaction would be a follow-on investment by the British bank, which had previously invested $48 million in Varun Beverages in July 2011, the statement said.