New York: Beverages giant Coca-Cola plans to acquire the US energy-drink firm Glaceau, in which Tata Tea has a 30% stake. The deal could be worth more than $3 billion (Rs12,300 crore), US media reports said on Wednesday.

The reports quoted unnamed sources as saying the world’s largest soft drink maker is in serious negotiations to acquire a part or all of Glaceau. These talks are said to be a bid by the firm to reverse its declining sales momentum.

Shares of Tata Tea—which had bought the 30% stake for $677 million in August last year—closed at Rs773.35 on the Bombay Stock Exchange, 14.8% above its previous close. When contacted, a Tata Tea spokesperson declined to comment. Officials at Coca-Cola could not be immediately contacted.

Based on the price of Tatas’ acquisition, Whitestone, New York-based Glaceau could be worth about $2.25 billion. It wasn’t clear whether Coca-Cola was looking to buy the Tatas’ stake, but brokers said the sharp rally in Tata Tea’s shares was triggered by expectations that the company could reap a huge premium on its Glaceau stake if Coca-Cola decides to acquire 100% of Glaceau.

In February this year, Coke had acquired Fuze Beverage, a maker of energy, tea and vitamin drinks, and is also reported to have been in talks to acquire Arizona Teas.