Tata Consumer dips 2% after withdrawing plans to acquire Bisleri

The company said no definitive agreement or binding commitment has been signed on this matter.

Shares of Tata Consumer Products (TCPL) dipped 2 per cent to Rs 693.05 on the BSE in Monday’s intra-day trade after the Tata Group company ceased negotiations with Bisleri for a potential acquisition. It said no definitive agreement or binding commitment has been signed on this matter.

TCPL had begun talks with the Chauhan family two years ago but decided to call off negotiations last week. Last November, Ramesh Chauhan, the chairman of Bisleri International, told Business Standard that he was in discussion with TCPL to sell a majority stake in the company for Rs 6,000-7,000 crore, adding that