Tata Consumer stops acquisition negotiations with Bisleri
Tata Consumer Products Ltd on Friday said it had stopped discussions with packaged water maker Bisleri International about a potential acquisition.
Bisleri Chairman Ramesh Chauhan has decided to sell the company to Tata Consumer Products for up to 70 billion rupees ($848 million), the Economic Times reported in November.
“The company has not entered into any definitive agreement or binding commitment in this regard,” Tata Consumer, which sells popular Tata Salt and Himalaya branded mineral water, said in a regulatory filing. stock after the market closes.
Bisleri did not immediately respond to Reuters’ request for comment.
Shares of Tata Consumer closed up 1.8 percent on Friday.
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