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Tata Sons Looks To Buy Out Biggest Stake Stake Held By Cyrus Mistry
Tata Sons Looks To Buy Out Biggest Stake Stake Held By Cyrus Mistry

After ousting Cyrus Mistry from the position of Chairman of Tata Sons, interim chief Ratan Tata is reportedly looking for a partner to buy out the stake held by Cyrus Mistry’s family.

Cyrus Mistry’s family or the Shapoorji Pallongi Group hold a 18.4 percent share and are the biggest stake holders in Tata Sons.

ALSO READ: Cyrus Mistry’s Letter To Tata Sons After Sudden Ousting Leaked! Read Here

According to reports, the Tata Group has initiated talks with various long-term investors to explore possibilities of buying out the Mistry family’s stakes if they became available.

In a sudden movement, Cyrus Mistry was removed from his post of Chairman of Tata Sons on October 24. While no official reason was released, a slew of mudslinging continued with Mistry writing a detailed 5 page letter to the group ‘directors’ which was released into the public, followed by an official statement by the Tatas, calling Mistry’s letter ‘unforgivable’ and a political drama.