Mount Everest to get TGBL shares

Tata Global Beverages (TGBL) is to issue new equity shares of the company to the shareholders of Mount Everest Mineral Water (MEMWL) on June 8. With the High Court of Calcutta approving the scheme of amalgamation of MEMWL with TGBL late last month, the company has informed the bourses that it has fixed the record date. In November 2013, the boards of directors of TGBL and MEMWL, in their respective meetings, had approved a proposal to merge the two firms.