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

MUMBAI, Oct 8 (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.

(Reporting by Indulal PM; Editing by Anand Basu)