Tata Global Beverages is increasing its stake in the mineral water company

Tata Global Beverages is increasing its stake in the mineral water company

Tata Global Beverages has announced that it intends to up its holding in Mount Everest Mineral Water (MEMW) by around 4%.

The board of direstors at Tata, the world's second-largest tea company, said yesterday (27 March) that it has approved the purchase of an extra 1.4m shares from MEMW's owners. 

The proposed purchase, detailed in a filing to the Bombay Stock Exchange, will be made on or before 31 March, at a price of INR198 (US$3.90) per share.

At the end of last year, Tata held 13.9m shares (40.92%) in MEMW.

To read the official filing, click here.