Bisleri’s chairman had decided to sell the company to Tata Consumer Products for $848 million. (file)
Bengaluru:
Tata Consumer Products Ltd on Friday said it has called off discussions with packaged water maker Bisleri International regarding a possible 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 in the matter,” Tata Consumer, which sells popular Tata Salt and Himalayan-branded mineral water, said in a stock exchange filing after market close.
Bisleri did not immediately respond to a Reuters request for comment.
Shares of Tata Consumer closed with a gain of 1.8 per cent on Friday.
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