Tata Consumer Products (TCPL) said on Friday that it had ceased negotiations with Bisleri International over a potential acquisition.
The firm said in a stock exchange notification that it “has not entered into any definitive agreement or binding commitment on this matter.”
Last November, Ramesh Chauhan, the chairman of Bisleri International, had told Business Standard that he was in discussion with TCPL to sell a majority stake in the company for Rs 6,000-7,000 crore, adding that he expected the deal to be completed in 7-8 months.
According to a source in the know, the two parties failed to agree on valuation.
Chauhan declined to comment on the deal being called off and also did not comment if the company was still looking to sell its majority stake in the company.
This story is from the March 18, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 18, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Stagger FD investments to catch peak rates
While some portion of your money should go into longer-tenure FDs offering higher rates, diversifying across maturities is essential as well
BHEL slips 8% after below-par Q4 results
Earnings missed Street expectations
Sebi cracks the whip in Superior Finlease case
The Securities and Exchange Board of India (Sebi) has barred 17 entities and individuals from the securities market for five years and two others for three years each for allegedly operating a pump and dump scheme in Superior Finlease through misleading recommendations through Telegram Channels.
Higher output, reasonable valuations positive for ONGC
Upstream majors ONGC and Oil India (OIL) results for the January-March quarter (Q4) of FY24 suggest better production in future.
Rebalancing: Adani Enterprises likely to dislodge Wipro from Sensex
Adani Enterprises is expected to replace Wipro in the benchmark Sensex.
India's mcap to GDP ratio at 15-yr high of 140%
Current ratio a few notches below all-time high of 149.4%
Stock traders seek cues from poll shadow bets
Traders in the stock markets are turning to illegal election betting platforms for clues to combat the uncertainty facing citizens and markets alike regarding the outcome of a long general elections.
Healthcare sector most violative of norms: Asci
Most cases of advertisement violation of norms were reported from the health care sector during 2023-24, followed by illegal offshore betting and personal care categories, according to the Advertising Standards Council of India's (Asci's) Annual Complaints Report released on Wednesday.
Tackling congestion for growing population
Many a time we wonder: \"Are our cities truly prepared?\" This question weighs heavily Lon us as our population grows and our resources dwindle, leaving our cities ill-prepared for what lies ahead.
The East wind blows harder
The global power balance is shifting as China and Russia assert dominance in technology and diplomacy
