Tata Global Beverages Ltd has informed BSE that the Company has entered into an agreement with Tata Realty and Infrastructure Limited for the development of the Company’s property in Bangalore through a Special Purpose Vehicle (SPV). The consideration for the transfer of the Company’s property is Rs. 195 crores which will be discharged by a mix of cash, equity / other securities in the SPV and constructed space in the developed property. The necessary transaction documents have been executed by the parties in this regard.
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