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Tata Consumer Products Ltd. announces the reorganization of its operations in India and abroad in order to simplify the corporate structure, align and synergize its activities.
The company made two announcements focused on creating a single consumer products entity by consolidating the branded coffee business of Tata Coffee Ltd. (excluding the coffee plantation segment) with Tata Consumer Products and also buying the minority stake in Tata Consumer Products UK. business.
In aggregate (including the split and merger), Tata Consumer Products will issue three shares of Tata Consumer Products for every ten shares held by them in Tata Coffee.
Acquisition of 10.15% ordinary shares of its existing overseas subsidiary Tata Consumer Products UK from Tata Enterprise (Overseas) AG, Switzerland for a total purchase price of Rs 5,708 million.
The consideration payable will be satisfied by the issue and allotment of 74,59,935 equity shares of Tata Consumer Products on a preferential basis.
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