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Tata Consumer leads race for maker of Ching s Secret, values co at Rs 5,500 cr

Will buy around 70% in first tranche; existing shareholders finalising rollover plans. Nestle, Kraft Heinz were the other contenders in fray. The potential buyout will pit Tata co against Nestles Maggi, which leads the Rs 5,000 crore branded instant noodles market.

Tata Consumer leads race for maker of Ching s Secret, values co at Rs 5,500 cr, ET Retail

Tata Consumer: Will buy around 70% in first tranche; existing shareholders finalising rollover plans. Nestle, Kraft Heinz were the other contenders in fray. The potential buyout will pit Tata co against Nestle’s Maggi, which leads the Rs 5,000 crore branded instant noodles market.

Short Call: Colgate s tricky choice, bears eye Max Financial, can Sun TV rerate, China bargain hunters

“Even as the grim prospects of hard landing have receded, global growth is likely to remain low by historical standards in the medium-term,” RBI Governor Shaktikanta Das said.

Indian Tobacco-to-Soap Conglomerate ITC Approves Hotel Spin Off

Indian Tobacco-to-Soap Conglomerate ITC Approves Hotel Spin Off
bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.

ITC hotel biz demerger allays capital allocation concerns, say analysts

ITC s move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor s concerns on the company s capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.

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