India's Tata Consumer drops acquisition talks with Bisleri

Tata Consumer Products

17/03/2023 10:58

BENGALURU, March 17 (Reuters) - India's Tata Consumer
Products Ltd  TACN.NS  on Friday said it had ceased discussions
with packaged water maker Bisleri International about a
potential acquisition.
    Bisleri chairman Ramesh Chauhan had decided to sell the
company to Tata Consumer Products for up to 70 billion rupees
($848 million), the Economic Times newspaper reported in
November.
    "The company has not entered into any definitive agreement
or binding commitment on this matter," Tata Consumer, which
sells the popular Tata Salt and Himalayan-branded mineral water,
said in a stock exchange filing after market closed.
    Bisleri did not immediately respond to a Reuters' request
for comment.
    Tata Consumer's shares closed 1.8% up on Friday.
    
    ($1 = 82.5470 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru; Editing by Varun H K)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))