Tata Consumer Products Limited agreed to acquire remaining 10.15% stake in Tata Consumer Products UK Group Limited from Tata Enterprises AG for INR 5.7 billion (£57.4 million).

Tata Consumer Products Limited (NSEI:TATACONSUM) agreed to acquire remaining 10.15% stake in Tata Consumer Products UK Group Limited from Tata Enterprises (Overseas) AG for INR 5.7 billion (£57.4 million) on March 29, 2022. Under the terms, Tata Consumer Products Limited will acquire 23,871,793 ordinary shares of Tata Consumer Products UK Group and issue 7,459,935 equity shares at a price of INR 765.16 (£7.7) per share. In 2021, Tata Consumer Products UK Group Limited generated revenues of approximately £230 million.

The deal has been approved by the board of Tata Consumer Products Limited. The deal is subject to regulatory/statutory approvals and approval by shareholders of Tata Consumer Products Limited. The deal is expected to close in next 3 to 6 months.

SSPA & Associates acted as accountant to Tata Consumer Products Limited. Ernst & Young Global Limited acted as financial advisor to Tata Consumer Products UK Group.