Tatas to sell stake to Honeywell for Rs 126 cr

Tata Group’s decision is consistent with its overall strategy to divest from non-core businesses.

Tata Honeywell is expected to continue as the supplier of process management and control system solutions to the Tata Group in the same manner as in the past.

Kishore Chaukar, managing director, Tata Industries, ‘‘We have had an excellent and fruitful 16-year relationship with Honeywell and wish it increases its ownership of the company’’.