Tata Sons, India's largest private sector group, said Friday it was selling its 30 percent stake in the U.S.-based Energy Brands Inc. for 1.2 billion U.S. dollars, making a neat profit of 523 million U.S. dollars, the Indo-Asian News Service (IANS) reported.

The stake, which was acquired for 677 million U.S. dollars, is being sold to the Coca-Cola Company, which will become a 100- percent owner of Energy Brands - better known for its brand Glaceau.

"This consideration reflects an underlying enterprise value of 4.2 billion U.S. dollars of Energy Brands," IANS quoted Tatas as saying. Based on the cost of purchase, the enterprise value of the company was 2.2 billion U.S. dollars.

Tata Tea had a 25-percent stake in Energy Brands through its Britain-based arm Tata Tea (GB) Investments, while its parent company Tata Sons Ltd had a 5 percent stake.

The Tata group has 93 companies in its fold with interests across seven business sectors and revenues of 22 billion U.S. dollars.

Source: Xinhua