Tata ceases negotiations to acquire Bisleri; informs bourses

Tata Consumer Products Ltd has stated that it has ended talks with Bisleri to buy the packaged drinking water company. In its filing to the NSE, BSE and Calcutta Stock Exchange, Tata Consumer Products said, “The Company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the Company has not entered into any definitive agreement or binding commitment on this matter.”

Tata Consumer Products referred to a news article that had appeared in The Economic Times, titled ‘Tata Consumer to acquire Bisleri for about Rs 7,000 crore’, as well as various other publications on the captioned matter on November 24, 2022, wherein the company had clarified that it evaluates various strategic opportunities for growth and expansion of its business, on an ongoing basis, and pursuant to this, the management of the company remained in discussions with various parties, including Bisleri International.

The company further stated that it had voluntarily issued this announcement in order to prevent any speculation concerning the matter.