United Kingdom-based Tata Global Beverages Overseas Holdings Ltd, the subsidiary of Tata Global Beverages Ltd, has entered into an agreement with Dr Muller Pharma s.r.o. and its subsidiary company for selling 100 per cent of the equity shareholding in Tata Global Beverages Czech Republic a.s. for € 4 million (Rs 31.7 crore).
The consideration amount of € 4 million includes consideration towards sale of shares and of trade mark rights, Tata Global Beverages Ltd said in an exchange filing.
Tata Global Beverages Czech Republic a.s. is the step-down subsidiary of Tata Global Beverages Ltd located in Czech Republic.
As per the filing, the expected completion date of the sale/disposal is January 13, 2020, unless otherwise agreed between the parties and subject to the payment of the consideration amount towards the sale of shares and trademark rights in the Nominated Account as per the terms of the Agreement.