25th May 2007 12:18
Tata Tea Limited25 May 2007 Tata Tea Limited through its indirect UK subsidiary Tata Tea (GB) InvestmentsLtd, had acquired 25% of the shareholding of Energy Brands Inc; USA ("EBI") andTata Sons Ltd through its subsidiary Tata Ltd (UK) had acquired 5% of theshareholding of EBI. The aggregate consideration for the purchase of this 30%holding was US $ 677 million based on an enterprise valuation of US $ 2.2Billion of EBI. In response to an offer received by EBI from The Coca Cola Company for acquiring100% of the capital of EBI, Tata Tea (GB) Investments Ltd (UK) and Tata Ltd (UK)have conditionally agreed to sell their shares to The Coca Cola Company by theend of the year, for an approximate consideration of $ 1.2 billion, which issubject to adjustment for certain transaction and other costs. Thisconsideration reflects an underlying enterprise value of US $ 4.2 billion ofEBI. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TGBL.L