Tata Tea to acquire Energy Brands Inc at an outlay of US$677 million

Tata Tea Ltd has announced that the Board of Directors of the Company at its meeting held on August 23, 2006, has decided, subject to receipt of necessary approvals, if any, to invest in acquiring a shareholding in Energy Brands Inc., USA (EBI). EBI, commonly known as Glaceau ® is engaged in the high growth business of enhanced water and markets Vitaminwater, Smartwater, Fruitwater etc.

The Company alongwith its Promoter, Tata Sons Ltd (subject to approval of its Board) will together acquire 30% shareholding in EBI with an aggregate investment of US$677 million.

Source : Equity Bulls

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