Tata Group to consolidate FMCG Business; announces Tata Chemicals transfer to Tata Global Beverages

Tata Group to consolidate FMCG Business; announces Tata Chemicals transfer to Tata Global Beverages

Tata Global Beverages Ltd (TGBL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals Ltd (TCL).

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Tata group Wednesday announced the transfer of its branded food business from Tata Chemicals Ltd to Tata Global Beverages Ltd in an all shares deal that will create an over Rs 9,000 crore giant.Tata group Wednesday announced the transfer of its branded food business from Tata Chemicals Ltd to Tata Global Beverages Ltd in an all shares deal that will create an over Rs 9,000 crore giant.
PTI
  • May 15, 2019,
  • Updated May 15, 2019 6:46 PM IST

Tata group Wednesday announced the transfer of its branded food business from Tata Chemicals Ltd to Tata Global Beverages Ltd in an all shares deal that will create an over Rs 9,000 crore giant. Tata Global Beverages Ltd (TGBL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals Ltd (TCL).

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TGBL will rename itself after the deal as Tata Consumer Products Ltd. The Boards of Directors of TGBL and TCL, at their respective meetings Wednesday, approved the de-merger of the consumer products business of TCL into TGBL, the company said in a statement.

Each shareholder of TCL will get 1.14 new equity shares of TFBL for every one equity share held. The proposed transaction will create a focused consumer products company with a combined turnover of Rs 9,099 crore and an EBIDTA of Rs 1,154 crore.

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Tata group Wednesday announced the transfer of its branded food business from Tata Chemicals Ltd to Tata Global Beverages Ltd in an all shares deal that will create an over Rs 9,000 crore giant. Tata Global Beverages Ltd (TGBL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals Ltd (TCL).

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TGBL will rename itself after the deal as Tata Consumer Products Ltd. The Boards of Directors of TGBL and TCL, at their respective meetings Wednesday, approved the de-merger of the consumer products business of TCL into TGBL, the company said in a statement.

Each shareholder of TCL will get 1.14 new equity shares of TFBL for every one equity share held. The proposed transaction will create a focused consumer products company with a combined turnover of Rs 9,099 crore and an EBIDTA of Rs 1,154 crore.

Also Read:

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