Tata Tea buys 25.7% in Mt Everest

Ending months of speculation, Tata Tea on Friday announced the intent to acquire management control of Mount Everest Mineral Water (MEMW) Company, owners of the Himalayan brand of bottled water.

The company has entered into a definitive agreement to buy 10.74 per cent shares from the promoters of MEMW and subscribe to a preferential share offer of 15 per cent of the company