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Tatas consolidate foods business under one firm

DNMUM436421 | 5/16/2019 | Author : Soumonty Kanungo | WC :595

Mumbai: In a major restructuring of its businesses, Tata Sons on Wednesday announced the transfer of its consumer products business from Tata Chemicals Ltd (TCL) to Tata Global Beverages Ltd (TGBL) in an all-share deal at a swap ratio of 1: 1.14, creating an FMCG behemoth worth over Rs 9,000 crore.
Post-merger of TCL’s consumer business with TGBL, the new entity will be named as Tata Consumer Products Ltd.
In separate filings on BSE, both companies said that the Board of directors of TGBL and TCL, at their respective meetings held on Wednesday, approved the de-merger of the consumer products business of TCL into TGBL through a National Company Law Tribunal (NCLT) approved scheme of arrangement.
Pursuant to the scheme, each shareho
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