Mcleod Russel India's subsidiary to acquire tea company

In Rwanda

Mcleod Russel India announced that Borelli Tea Holdings, the wholly owned subsidiary of the Company has agreed in principle to sign a Share Purchase Agreement with LAB International Ltd., U.K. for acquisition of its 90% shares held in Pfunda Tea Company, Rwanda, engaged in tea plantation and manufacturing activities for the aggregate sum of US$ 19,500,000. On completion of the deal in terms of the Share Purchase Agreement, Pfunda Tea Company, will become a step-down subsidiary of the Company.

Powered by Capital Market - Live News