Tata Chemicals Ltd Wednesday said it will demerge its consumer product business and merge it with Tata Global Beverages Ltd. Consumer product business of Tata Chemicals comprises manufacturing of edible common salt, spices and protein food.
Each shareholder of Tata Chemicals Ltd will get 1.14 new equity shares of Tata Global Beverages Ltd for every one equity share they held in the company. "The proposed transaction will create a focused consumer products company with a combined turnover and EBITDA of Rs 9,099 crore and Rs 1,154 crore respectively," the company said in a regulatory filing.
EBITDA is Earnings Before Interest, Tax, Depreciation and Amortisation.
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