As part of the deal, shareholders of Tata Chemicals will get 1.14 new shares of Tata Global for every share held, the company said in an exchange filing on Wednesday. The transaction values the consumer business of Tata Chemicals at around ₹5,800 crore. Post the acquisition, Tata Chemicals will own a 31.5% stake in Tata Global Beverages. The carving out of the food business of Tata Chemicals is part of Tata Sons Ltd chairman N. Chandrasekaran’s strategy to simplify group structures with a sharper business focus. The consumer business of Tata Chemicals consists of Tata Salt, an iconic brand, with about 60% market share.

Source: Mint May 15, 2019 11:07 UTC