New Delhi: Tata consumer Products Ltd (TCPL) entered negotiations to acquire Bisleri, TCPL said on Friday.
According to Tata, it has not entered into any definitive agreement or commitment on this matter.
” The company wishes to update that it has now ceased negotiation with Bisleri with regard to a potential agreement and to confirm that the Company has not entered into any binding commitment on this matter,” Tata Consumer Product Limited said in a regulatory filing.
TCPL was in talks with Bisleri since November 2022 to buy the packaged water giant company for about 7,000 crores.
According to media reports, Ramesh Chauhan, Chairman of Bisleri international, has no successor to take Bisleri to take forward Bisleri.
As per reports, both companies were unable to agree on the valuation so further talks stalled.
About 30 years ago, Bisleri Chairman Chauhan sold soft drink brands Thumbs UP, Limca and Gold Spot to Coca-Cola.