Tata Coffee Merger Approved by NCLT Kolkata
Dec 01, 2023 20:36
Tata Coffee Ltd (TCL) has received NCLT Kolkata's approval for its merger with Tata Consumer Products and TCPL Beverages & Foods, aiming to simplify operations and enhance efficiency.
Photograph: Kind courtesy Tata Consumer Products
Mumbai, Dec 1 (PTI) Tata Coffee Ltd (TCL) on Friday said the National Company Law Tribunal (NCLT) Kolkata has approved the merger of the company with Tata Consumer Products and TCPL Beverages & Foods.
In a regulatory filing, Tata Coffee said the order approving the scheme of arrangement was passed by NCLT, Kolkata Bench, was pronounced on November 10, 2023.
The company received the copy of the order on December 1, 2023, the filing added.
This merger was proposed to simplify the management and operational structures to increase efficiencies and generate synergies, it noted.
Tata Coffee is currently engaged in consumer product business across the globe with a food and beverage portfolio. The operations of TCL and its subsidiaries are substantially in instant coffee extraction, branded coffee and plantation business.
Shares of TCL on Friday closed 0.68 per cent higher at Rs 279.75 apiece on the BSE.
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