India-born Suma Chakrabarti will succeed Germany's Thomas Mirow as the President of the European Bank for Reconstruction and Development (EBRD), which has been supporting economic transition in former Eastern Bloc countries and Soviet republics for the last two decades.
Known for its acquisition-led strategy, India's second-largest branded tea company, Tata Tea, has tied up with the European Bank for Reconstruction and Development (EBRD) to buy 51 per cent in a Russian packaging and distribution company called Grand.
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