In a filing to the Bombay Stock Exchange, TGB said that its board has approved the purchase of 14,17,632 shares of Mount Everest Mineral from Foresight Holdings and Vinod Sethi, promoters of the Himalayan natural spring water brand. After the purchase, TGB will hold 45.09% stake in Mount Everest Mineral.
The purchase of shares were the result of a put-option agreement entered into at the time of acquiring an initial 20% stake in Mount Everest Mineral in 2007.
Source: TGB
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