Packaged drinking water firm Bisleri International chairman Ramesh Chauhan has stated that he has no plans to sell the corporate. The chairman added that he is not in talks with any events to sell the business. The growth has come days after Tata Consumer Products Ltd known as off their negotiations with Bisleri.
According to studies, Ramesh Chauhan had been in negotiations with the Tata group’s FMCG arm Tata Consumer Products Ltd (TCPL) for practically 4 months however the deal didn’t undergo.
“We have no plans” to sell the business, Chauhan informed PTI stated.
The 82-year-old businessman additionally declined to remark when requested whether or not his daughter was prepared to lead the corporate from right here.
In November final yr when Bisleri was in talks with Tata, Ramesh Chauhan stated that somebody had to deal with the business and look into it as his daughter Jayanti was not curious about main the business.
Later in a media assertion, Bisleri International Spokesperson had additionally stated, “We are currently in discussion and cannot disclose further.”
However, final week resting the speculations a couple of potential acquisition, TCPL, in a regulatory replace, stated it has not entered into any agreements over the acquisition of Bisleri.
“In this regard, the company wishes to update that it has now ceased negotiations with Bisleri with regard to a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” TCPL had stated.
Bisleri International operates within the bottled water section with its flagship model Bisleri and spring water Vedica. It can be current in fizzy drinks with manufacturers – Spyci, Limonata, Fonzo and PinaColada.
It’s attention-grabbing to know that three a long time in the past, Chauhans offered their tender drinks business to the US beverage main The Coca-Cola Company. He transferred manufacturers such as Thums Up, Gold Spot, Citra, Maaza and Limca in 1993 to the Atlanta-headquartered agency.
(With inputs from PTI)
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