Tata Global Beverages to divest stake in group's firms to parent

TGBL shares closed at Rs 169 a share on Tuesday, up 1.5%

tata motors

With N Chandrasekaran taking over as chairman of the board early this month, Tata Global Beverages (TGBL) has decided to sell its stake in various Tata group listed companies to its parent, Tata Sons, in the next few months. TGBL owns close to Rs 755 crore worth of stake in other Tata group firms, especially in Tata Chemicals. According to statistics with the stock exchanges, TGBL owns 4.39 per cent stake in Tata Chemicals, worth Rs 715 crore, taking into account Tuesday’s closing, and miniscule stakes in Indian Hotels and Tata Investment Corporation. While the stake sale ...