The 7 billion rupee purchase by Tata Group was cancelled...
In november, Tata Consumer Products revealed that the two businesses are currently in negotiations over the Bisleri acquisition. However, Tata Consumer Products recently disclosed that it has terminated talks with Bisleri for a potential purchase of the world's largest packaged water company. The tea-to-steel conglomerate would take the lead in the indian packaged water market if the transaction is approved.
"The company wishes to update that it has ceased talks with Bisleri with regard to a potential transaction," Tata Consumer Products stated in a stock exchange filing. "The company also wishes to confirm that the company has not entered into any definitive agreement or binding commitment on the matter."
It is known that Tata Group and Bisleri international were in negotiations to purchase the business for an estimated Rs 6,000–7,000 crore in november 2022.
"I like the integrity and values of Tata and therefore made up my mind despite the aggression shown by other interested buyers," said Ramesh Chauhan, chairman of Bisleri international, to The Economic Times.
In an interview with The Economic Times, Ramesh Chauhan, chairman of Bisleri international, said, "I like the integrity and values of Tata and therefore made up my mind despite the aggression shown by other interested buyers."
It was discovered earlier this month that negotiations between Bisleri international and Tata Consumer Products regarding value have ceased.