The Financial Express – Singapore-based hedge fund Tree Line Asia Master Fund (Singapore) Pte has sold over 4% stake in Tata-controlled mountain water bottling company Mount Everest Mineral Water, owner of the Himalayan range of non-aerated beverages. The hedge fund has struck the deal to offload its majority stake after reportedly realizing ‘a substantial premium’ on its investment, market sources said.
“It is a typical hedge fund strategy to exit a firm once the promoters have grown in size, they (hedge funds) get a substantial return on their investment and no exit option through an IPO is in sight in near future”, a fund manager tracking hedge funds told FE.
