Tata Consumer, Tata Coffee merger effective January 1 Tata Consumer Products (TCPL) on Thursday said the appointed date of the merger of Tata Coffee (TCL) with the company would be January 1, 2024. The announcement comes almost two years after Tata Consumer had first announced the merger of all businesses of Tata Coffee with itself. This was part of a reorganisation plan in line with the company’s strategic priority of unlocking synergies and efficiencies. While the plantation business of TCL would be demerged into TBFL, the remaining business of TCL, consisting of its extraction and branded coffee business, would be merged with TCPL, the company said. Under the scheme of arrangement, shareholders of TCL would receive an aggregate of three equity shares of TCPL for every 10 equity shares held by them in TCL. This would be carried out through the issuance of one equity share of TCPL for every 22 equity shares of TCL in consideration for the demerger. For the merger, 14 equity shares of TCPL would be issued for every 55 equity shares of TCL, the company said. Shares of TCPL closed trade up 1.47% on the BSE on Thursday at Rs 1,042.10 apiece even as the broader BSE Sensex closed in the green at 72,410.38, up 0.52% versus the previous day’s close.
2. Warren Buffett talked about his business partner Charlie Munger in his letter. He said they both think alike but what it takes Warren Buffett a page to explain, Charlie Munger sums up in a sentence. Charlie Munger’s version, moreover, is always more clearly reasoned.
The lesson for investors: “I will add to Charlie’s list a rule of my own: Find a very smart high-grade partner – preferably slightly older than you – and then listen very carefully to what he says,” Warren Buffett said.
3. Warren Buffett emphasised that his long-time business partner Charlie Munger and he are business pickers, not stock pickers. He further said that efficient markets exist only in textbooks.
“We own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business pickers,” Warren Buffett said.