Tata Tea plans Rs 500 crore investment in Tata Tea (GB) and Tata Coffee
To take advantage of any acquisition or expansion opportunities.
08/08/05 India, Tata Tea has planned an investment of Rs 500 crore in its UK-based subsidiary Tata Tea (GB) and Tata Coffee. The company plans to take advantage of any acquisition or expansion opportunities.
The resolution seeking approval from the shareholders at the ensuing annual general meeting on August 9, 2005 reads, “Keeping in view the need to quickly take advantage of any acquisition or expansion opportunities through the company’s subsidiaries, it has become necessary to enhance the limit for making such investments.”
Tata Tea (GB), UK is the holding company through which the company had acquired The Tetley Group Ltd. Currently, Tata Tea holds 98.58% in the UK subsidiary; this includes 14% through a wholly owned subsidiary.
http://www.financialexpress.com/fe_full_story.php?content_id=98623
