Tata Consumers terminates acquisition talks with Busleri
Chairman Bisleri had decided to sell the company to Tata Consumer Products for $848 million. (file)
Bengaluru:
Tata Consumer Products Ltd on Friday said it has ended talks with packaged water maker Busleri International over a possible acquisition.
Basleri chairman Ramesh Chauhan had decided to sell the company to Tata Consumer Products for up to 70 billion rupees ($848 million), the Economic Times newspaper reported in November.
“The company has not entered into any definitive agreement or binding commitment on the matter,” Tata Consumer, which sells the popular Tata Salt and Himalayan branded mineral water, said in a stock exchange filing after the market closed.
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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