Tata Coffee’s merger with its parent company, Tata Consumer Products Ltd (TCPL), along with the simultaneous demerger and amalgamation of Tata Coffee’s plantation unit into TCPL Beverages & Foods, is scheduled to take effect on January 1. The proposal to merge all businesses of Tata Coffee with Tata Consumer Products was part of a strategic reorganization plan aimed at unlocking synergies and efficiencies.
On December 28, Tata Coffee and Tata Consumer Products shares hit their 52-week high. The board of directors of both companies has confirmed the fulfillment of all conditions, including the submission of certified copies of the order to the registrar of companies in the form INC-28.
In a filing with the exchanges, Tata Coffee stated, “With the Scheme becoming effective on January 1, 2024, the Company will be dissolved without winding-up. Accordingly, the offices of all Directors and Key Managerial Personnel of the Company shall stand vacated on that date, without further action.”
Furthermore, the record date for the company to identify eligible TCL shareholders who will receive shares in Tata Consumer Products, allocated through the demerger and amalgamation, is set for January 15, 2024.
