On Friday, Tata Coffee Ltd (TCL) announced that the National Company Law Tribunal (NCLT) in Kolkata has granted approval for the merger of TCL with Tata Consumer Products and TCPL Beverages & Foods. In a regulatory filing, Tata Coffee disclosed that the NCLT, Kolkata Bench, issued the order approving the scheme of arrangement on November 10, 2023.
The filing mentioned that the company obtained a copy of the order on December 1, 2023.
The proposal for this merger aims to streamline management and operational structures, fostering increased efficiencies and the creation of synergies, as emphasized in the statement.
Currently, Tata Coffee is actively involved in the global consumer product business, boasting a diverse food and beverage portfolio. The primary focus of TCL and its subsidiaries revolves around instant coffee extraction, branded coffee, and plantation activities.
On Friday, TCL shares concluded the trading session with a 0.68% increase, reaching INR 279.75 per share on the BSE.
