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    Varun Beverages to invest 26% of equity share capital of Clean Max Tav


    November 23, 2022 - Accord Fintech

     

      India, Nov. 23 -- Varun Beverages has agreed to invest 26% (in one or more tranches) of Equity Share Capital of Clean Max Tav, a special purpose vehicle (SPV) inter-alia engaged to supply solar and wind power to consumers in the state of Karnataka. As part of the proposed transaction, the company, being the captive user, would be investing Rs 3.28 crore in the equity shares of the SPV in tranches. The completion of the transaction is expected on or before March 31, 2023.

      The company intends to obtain solar and wind power (generation and supply) from SPV for its facilities located in Karnataka. Solar and wind power is environment friendly and will reduce the power cost in the Karnataka facilities.

      Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally. Published by HT Digital Content Services with permission from Accord Fintech. For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com

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