Tata Consumer calls off acquisition talks with Bisleri
Tata Consumer Products Ltd on Friday said it has closed discussions with packaged water maker Bisleri International regarding a possible acquisition.
Bisleri 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.
Tata Consumer, which sells the popular Tata Salt and Himalayan branded mineral water, said in a stock exchange filing after market close, “The company has not entered into any definitive agreement or binding commitment in the matter.”
Bisleri did not immediately respond to a Reuters request for comment.
Shares of Tata Consumer closed with a gain of 1.8 per cent on Friday.
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