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Takeover scare for McLeod Russel as Carbon Resources picks up over 5% stake

The would-be acquirer makes non-binding offer to banks to settle the bulk tea producer's dues

Topics
McLeod Russel | Tea production | Stake sale

Ishita Ayan Dutt  |  Kolkata 



Icra has downgraded the ratings of bank facilities of McLeod Russel India to [ICRA] B-/[ICRA] A4 from [ICRA] BBB-/[ICRA]A3
Carbon Resources bought more than five per cent in McLeod through open market operations

McLeod Russel, the largest bulk tea producer in India, is facing a takeover threat from Carbon Resources, a company manufacturing input materials for ferro alloys, aluminium and steel industries.

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First Published: Mon, September 19 2022. 14:45 IST

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