Tata has confirmed to stock exchanges that it has ceased any negotiations with packaged drinking water brand Bisleri, the packaged water giant for its potential acquisition in a deal that was estimated to cost about Rs 6,000-Rs 7,000 crore.
Tata Consumer Products had been exploring the acquisition as a way to expand its portfolio in the packaged drinking water segment, but it seems that they will now need to look for alternative options. While the decision to end the discussions may be disappointing for some stakeholders, Tata Consumer Products will no doubt continue to explore strategic opportunities to grow its business in the future.
“The company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” Tata Consumer Products said in a stock exchange filing.
