Tata Coffee Ltd has announced its merger with Tata Consumer Products Ltd (TCPL) and TCPL Beverages & Foods Ltd (TBFL) effective from January 1, 2024. The Board of Directors of TCL, the Scheme Implementation Committee of the Board of TCPL, and the Board of Directors of TBFL have confirmed the fulfillment of conditions under Clause 29 of the Scheme.
According to Tata Coffee's regulatory filing, the Appointed Date and the Effective Date of the Scheme are January 01, 2024. Post-merger, Tata Coffee Ltd will be dissolved without winding up from January 1, 2024, onwards.
"With the scheme becoming effective on January 1, 2024, the Company will get dissolved without winding-up, and accordingly, the office of all Directors and Key Managerial Personnel of the company shall stand vacated on that date, without further course of action," stated the company.
In a separate filing, Tata Coffee specified January 15, 2024, as the record date for determining shareholders of TCL eligible for the allocation of equity shares of TCPL following the demerger and amalgamation.
The reorganization scheme, approved by shareholders of Tata Consumer Products Ltd, Tata Coffee, and TCPL Beverages and Foods in November 2022, involves merging Tata Coffee with Tata Consumer Products and its wholly-owned subsidiary. As part of the scheme, the plantation business of Tata Coffee will be integrated into TCPL Beverages & Foods, a wholly-owned subsidiary of TCPL. Existing shareholders will receive one equity share in TCPL for every 22 equity shares held in Tata Coffee.
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