Wires

Standard Chartered PE invests $32 mln in India's Varun Beverages

MUMBAI, Oct 8 (Reuters) - Private equity arm of StandardChartered Plc has invested $32 million in India's VarunBeverages, which is the largest bottler for PepsiCo Incin South Asia, the companies said in a joint statement.

The funds would be used to buy out PepsiCo's minority stakein Varun Beverages' subsidiary, the statement said.

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

(Reporting by Indulal PM; Editing by Anand Basu)

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Keywords: STANDARDCHARTERED INVESTMENTS/VARUNBEVERAGES