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Tata Global Beverages plans to unlock the value of its Bangalore land parcel, mopping up Rs 195 crore from the deal.
It has entered into an agreement with Tata Realty and Infrastructure Ltd to develop the property through a special purpose vehicle (SPV), the company said in a release to the exchanges.
The consideration for the transfer of the property, Rs 195 crore, will be discharged by a mix of cash, equity/other securities in the SPV and constructed space in the developed property.
The necessary transaction documents have been executed by the parties in this regard, company release said.
anil.u@thehindu.co.in
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