Tata Group has called off its plan to acquire Bisleri, the leading bottled water company in India. The company had been eyeing a stake in Bisleri since 2018.
The reason for the withdrawal of the plan is that the two sides have failed to come to an agreement on the terms and conditions of the deal. Tata had initially proposed to acquire a majority stake in Bisleri, but the Bisleri family did not agree to the terms.
The parties had been in talks for a while but were unable to reach a consensus on the price and other terms of the deal. Tata Group, which has a presence in various sectors including beverages, was hoping to acquire Bisleri to further strengthen its presence in the beverage industry.
The company has now decided to withdraw from the negotiations and focus on other opportunities. This is the second time that Tata Group has called off a deal with Bisleri. In 2019, the group had tried to acquire a majority stake in the company, but the talks failed at the last stage.