LIC sells 2% stake in Tata Global Beverages for R161 crore

Written by Press Trust of India | Mumbai | Updated: Feb 29 2012, 06:27am hrs
Life Insurance Corporation (LIC) has sold 2% stake in Tata Global Beverages for R161 crore over 19 months started August 2010.

Tata Global Beverages said in a filing to the BSE that Life Insurance Corporation has offloaded more than 1.27 crore shares, representing 2.05%.

These shares, worth more than R161.33 crore were sold between August 2, 2010 and February 21, 2012. All the transactions were through market sale.

Prior to the sale of these shares, Life Insurance Corporation held 15.89% stake in Tata Global Beverages. Shares of the company closed at R120.25 on the Bombay Stock Exchange on Tuesday, up 6.13% from its previous close.