LICtrims stake inTata Global Beverages to 5.67%

State-ownedLifeInsuranceCorporation(LIC) has reduceditsshareholdinginTataGlobalBeveragesLtd (TGBL) to5.67percentbyselling2.03stakeinopen market. LICsold12.8millionshares, representing2.03 percentstake, ofTGBLinopenmarketbetweenJuly4 andAugust23, theTatagroupcompanysaidinafilingtoBSE. Theinsurancegianthad7.70percentstakeinTGBLearlier. InJuly, LIC hadsold2.14percentshareinTGBLinthemarkettobringdownits shareholdinginthecompanyto7.70percentfrom9.85percent earlier. TGBL'steabrandsincludeTataTea, Tetley, GoodEarthTeas, Vitax, teapigsandJEMCA. TGBListheworld'ssecond-largest manufactureranddistributoroftea, withsignificantbrand presenceinover40countriesacrossAsia, Europe, NorthAmerica, WestAsia, AfricaandAustralia. Inthecoffeesegment, ithas EightO’ClockandGrandbrands.