Tata Global Beverages to merge with the consumer products unit of Tata Chemicals in a $825m deal.

Tata Global Beverages, an Indian multinational non-alcoholic beverages company, agreed to merge with the consumer products unit of Tata Chemicals, an Indian global company with interests in chemicals, crop nutrition and consumer products headquartered in Mumbai, in a $825m deal. "This transaction is consistent with our strategy to deepen our India presence and transform into a broader FMCG player. Existing TGBL shareholders will benefit significantly as the Consumer Products Business increases our exposure to high growth product categories and provides a strong platform to seize new opportunities in this sector. We will also continue to nurture and grow our global brands," Ajoy Misra, TGBL Managing Director & CEO.