Tata Global Beverages sells entire stake in JV

 

Tata Global Beverages Limited announced that as part of its overall strategy to focus on branded business in
key geographies, the Company, vide a Share Sale and Purchase agreement, amongst, Sunshine Holdings PLC, Estate Management Services Private Limited (EMSPL) and the Company, dated 28th December, 2017, divested its holdings of 1,20,78,406 shares in its Joint Venture, EMPSL, constituting 31.85 % of the issued capital of EMSPL for a consideration of about INR 120 crores.

Consequently, EMSPL has ceased to become an associate of the Company effective 28th December 2017.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com