ITC Ltd News Today

ITC completed the acquisition on a cash-free, debt-free basis, with an aggregate upfront consideration of ₹400 Crore.

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The implied cost of the acquisition is to the extent of ₹472.5 crore of which ₹400 crore will be payable on payment terms at closing of the transaction.

The strategic investment is in line with ITC’s vision to be a long-term player in the fast-growing frozen, chilled and ready-to-cook foods segment in India.

RCL currently owns 2.44% and 0.53% of EIH and HLV, respectively, whereas ITC currently owns 13.69% and 7.58% of both companies.

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Marroco stated without providing any details that BAT is also seeking to introduce its oral tobacco products in India.

This is a significant relief to Calcutta-based ITC, which operates a luxury five-star hotel in the heart of New Delhi.

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