Bisleri International Chairman Ramesh Chauhan has reportedly confirmed that the bottled water company is no more in talks with Tata Consumer Products Ltd (TCPL) regarding the sale deal, which started in November last year.
Speaking with business daily ET, the Bisleri founder also said that his daughter Jayanti Chauhan will be running the company.
“Jayanti will steer the company with the professional team headed by CEO Angelo George,” he said.
Jayanti , who is currently the vice chairperson, has been involved in the company’s business for several years. Of late, she has been working on expanding Bisleri’s Vedika brand.
Last year in November, Bisleri International entered into talks with Tata Consumer Products to sell a majority stake in the company for around Rs 7,000 crore. The deal was expected to be completed over the next 7-8 months.
Meanwhile, Bisleri CEO George while speaking to ET NOW refused to speak on news reports around the company’s deal talks with Tatas and said that he would not like to comment on ‘market speculations’.
“We at Bisleri are focused on task at hand in the company and we have a vision plan for four years and we are completely focused on that. Secondly, the largest initiative that has happened is improving our entire sustainability initiatives on the ground. As we speak we are one of the first FMCG companies in India to be plastic neutral and we have actually recycled more plastic than we have put in the market and we are water positive that is we replenish more water into the ground than what we draw,” he said.
Last week, TCPL announced that it ceased the talks with Bisleri and that it “has not entered into any definitive agreement or binding commitment on this matter.”
“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,” it said in a regulatory filing.
