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Tata Consumer Products Ltd on Tuesday announced that they will merge all businesses of Tata Coffee with itself.
Tata Consumer currently holds a 57.5 per cent stake in Tata Coffee. Post the merger, the extraction and branded coffee business of TCL will be a part of TCPL and the plantation business will be demerged into TCPL Food and Beverage Ltd, a wholly-owned subsidiary of TCPL. This decision is, by all means, beneficial for TCL shareholders as they (other than TCPL) will receive an aggregate of 3 equity shares of TCPL for every 10 equity shares held by them in TCL.
Tata Coffee is one of the world’s largest integrated coffee cultivations and processing companies. Its main products are Indian-origin green coffee beans, instant coffee, tea and pepper.
The stock has rallied by 9.6 per cent since the opening bell. As of 2:55 pm, the scrip is trading at Rs 215.25.