Tata Consumer Products’ step-down wholly owned subsidiary -- Tata Consumer Products Overseas Holdings (TCP Overseas) has decided to purchase 23.3% of the share capital of Joekels Tea Packers (Proprietary) Republic of South Africa (Joekels), from its Joint-Venture partners, as per the terms of the Share Purchase Agreement and the Shareholders Agreement, finalised and executed, amongst TCP Overseas, Joekels and the JV Partners.
The acquisition of the stake by TCP Overseas from the JV partners is for a consideration value of around Rs 43.65 crore plus the adjustment amount (which will be payable later, basis the conditions mentioned in the Transaction Agreements). The said transaction is subject to the fulfilment of various terms and conditions as specified in Transaction Agreements. As a result of the acquisition, the holding of TCP Overseas in Joekels will increase from 51.7% to 75% of the equity share capital and the remaining 25% is held by the joint venture partners.
Tata Consumer Products (formerly known as Tata Global Beverages) is a focused consumer products company uniting the food and beverage interests of the Tata Group under one umbrella.
| Company Name | CMP |
|---|---|
| Tata Consumer Produc | 1110.20 |
| CCL Products (India) | 1076.50 |
| Mcleod Russel | 55.48 |
| Goodricke Group | 167.15 |
| Jay Shree Tea | 87.36 |
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