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MCLEOD RUSSEL INDIA LTD. - Updates on Subsidiary
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26 Nov 2014
With reference to the earlier letter dated October 21, 2014, Mcleod Russel India Ltd has now informed BSE that Borelli Tea Holdings Ltd. on November 26, 2014 has signed the Share Purchase Agreement with L.A.B. International Ltd., U.K. for acquisition of its 90% Shares held in Pfunda Tea Company Ltd. (PTC), Rwanda, and pursuant to the said Agreement has on November 26, 2014 taken over the management of PTC after the purchase consideration i.e. USD 19,500,000 was paid in full. On completion of the transaction, Pfunda Tea Company Ltd. has become a subsidiary of Borelli Tea Holdings Ltd. and a step-down subsidiary of McLeod Russel India Limited with effect from November 26, 2014.
View all announcements for MCLEOD RUSSEL INDIA LTD. Source: BSE India