Tata Consumer Products Overseas Holdings Limited, a subsidiary of Tata Consumer through its UK arm on Thursday informed in a stock exchange filing that it has acquired a 23.3 per cent stake in Joekels Tea Packers. The acquisition is done at ₹43.65 crore.
With this, the company’s stake will increase from 51.7 per cent to 75 per cent of the equity share capital and the remaining 25 per cent is held by the joint venture partners.
The acquisition cost for Tata Consumer Products UK Group Limited will be with the adjustment amount that will be payable later on the conditions mentioned as per the transaction agreements.