Tata Coffee to be merged into Tata Consumer Products

Kolkata-based Tata Consumer Products Ltd (TCPL) is to merge all the businesses of Pollibetta, Karnataka-based, fellow listed Tata Coffee Ltd (TCL) with itself as part of a reorganisation plan. While the plantation business of TCL will be demerged into TCPL's wholly-owned arm TCPL Beverages & Foods Ltd (TBFL), the remaining business of TCL, consisting of its extraction and branded coffee business, will be merged with TCPL. Shareholders of TCL (other than TCPL) will receive an aggregate of 3 equity shares of TCPL for every 10 equity shares held by them in TCL. Kotak Investment Banking is the financial advisor and fairness opinion provider to TCPL, while ICICI Securities is the fairness opinion provider to TCL. PwC Business Consulting Services LLP and SSPA & Co. are valuers for the scheme and KPMG is the tax advisor. Cyril Amarchand Mangaldas is the legal advisor for TCPL.