Bisleri chairman had decided to sell the company to Tata Consumer Products for up to $848 million. (File)
Bangalore:
Tata Consumer Products Ltd said on Friday it had ceased talks with packaged water maker Bisleri International over a potential takeover.
Bisleri chairman Ramesh Chauhan had decided to sell the company to Tata Consumer Products for up to 70 billion rupees ($848 million), the Economic Times newspaper reported in November.
“The company has not entered into any final agreement or binding commitment on this matter,” Tata Consumer, which sells the popular Tata Salt and Himalayan branded mineral waters, said in a grant application after the market closed.
Bisleri did not immediately respond to a Reuters request for comment.
Tata Consumer shares closed 1.8% higher on Friday.
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