McLeod-Carbon pact period ends as debt restructuring talk with banks linger

In August 2023, McLeod reached an understanding with Carbon Resources for the sale of tea estates. The size of the deal pegged at Rs 700 crore was to enable a one-time settlement

As discussions on debt restructuring of the financially distressed McLeod Russel are going on with banks, the exclusivity period for the sale of its tea gardens to electrode paste maker Carbon Resources has ended. According to sources close to the development, the exclusivity period for Carbon Resources was till September-end and there was an understanding between the companies till the end of December.

However, the exclusivity period came to an end as clarity from the banks on debt restructuring was awaited, they said.

In August 2023, McLeod reached an understanding with Carbon Resources for the sale of tea estates. The size of