Latest News | Not in Negotiations with Haldiram's to Buy Majority Stake: Tata Consumer Products
Get latest articles and stories on Latest News at LatestLY. Tata Consumer Products Ltd (TCPL) on Wednesday said it is not in negotiations with Haldiram's to acquire a 51 per cent stake in the company.
New Delhi, Sep 6 (PTI) Tata Consumer Products Ltd (TCPL) on Wednesday said it is not in negotiations with Haldiram's to acquire a 51 per cent stake in the company.
According to reports, the Tata Group's FMCG arm is in talks with Haldiram's to buy a majority stake, but not comfortable with a high enterprise value.
Haldiram's is a leading snacks maker and restaurant operator.
"The company is not in negotiations as reported" to acquire Haldiram's, TCPL said in a regulatory filing.
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The filing was in response to a clarification sought by the NSE and the BSE regarding the reports.
"Tata Consumer Products does not comment on market speculation," a company spokesperson said earlier in the day.
When contacted, Haldiram management declined to comment on the matter.
TCPL owns brands such as Tata Salt, Tata Tea, Tetley, Tata Coffee, Tata Soulfull and Eight O'clock in the tea, coffee and beverages segment and Himalayan, Gluco+ in the liquid beverages.
The company is also expanding in the foods and beverages sector.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)