Tata Consumer Products Overseas Holdings Limited, through an exchange filling announced on Thursday, the purchase of 23.3 per cent share capital of Joekels Tea Packers Limited, Republic of South Africa. Post the acquisition of the shares, TCP Overseas will hold a total of 75 per cent equity share capital, up from its earlier 51.7 per cent.
The shares were acquired from the JV partners for a consideration value of Rs 43.65 crore and an additional adjustment amount that will be applicable later on based on the conditions mentioned in the Transaction Agreements.
TCP Overseas is a step-down wholly-owned subsidiary of the Tata Group through the Tata Consumer Products UK Group Limited.
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