The Chennai based Siva Group has acquired 50 per cent stake in Isklar, a
Norway based mineral water company, for $22 million (approx Rs 100 crore).
Isklar is expected to issue additional shares to the Siva Group and the
holding of the existing promoters will come down to 50 per cent. The company is
promoted by the Sabco Group based in Muscat, Oman and Java Holdings of Norway.
Isklar takes water from the glaciers and bottles it. It currently has the
capacity to bottle 20 million litres. The current capacity is likely to be
doubled in 2010.