LIC sells over 2% stake in Tata Global Beverages for Rs160 crore
MDT/PTI 28 August 2012

These shares, offloaded through open market transactions between 28th June and 24th August this year, were worth Rs160.15 crore. LIC now holds 9.71% stake in Tata Global Beverages

 
New Delhi: Life Insurance Corp of India (LIC) has sold shares worth Rs160 crore of Tata Global Beverages, representing a little over 2% stake in the company, reports PTI.
 
In a regulatory filing, Tata Global Beverages said LIC has offloaded 1.28 crore shares, translating to around 2.08% stake in the beverages major.
 
These shares, sold between 28th June and 24th August this year, were worth Rs160.15 crore. They were offloaded through open market transactions.
 
LIC now holds 9.71% stake in Tata Global Beverages. Prior to these transactions, the insurance major held 11.79% shareholding in the company.
 
Tata Global Beverages is the world's second largest tea company. The group's annual turnover is $1.4 billion and it employs over 3,000 people worldwide.
 
 
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