Tata Consumer hikes stake in South Africa's Joekels Tea Packers to 75%

Publicly listed Tata Consumer Products, via its UK unit, has acquired a 23.3% stake in South Africa-based Joekels Tea Packers for the equivalent of INR 43.65 crore upfront (apart from an variable amount payable over time) from its joint venture partners . With this, Tata Consumer's stake in the target company will increase from 51.7% to 75%. The remaining 25% is held by the JV partners.