Harrisons Malayalam to sell plantation for Rs 60 cr

Harrisons Malayalam, the plantionas company of the Rs 8500 crore RPG Enterprises, has finalised a deal to sell one of its largest rubber plantations to a south India-based buyer. The sale consideration is in the region of Rs 60 crore.

The company is keen to exit plantation business and was looking for buyers for its plantations which also included tea estates, sources said. However, the group refused to comment on the transaction as the company's board meeting was scheduled for Wednesday.

The plantations business does not feature as one of the core areas of the group, which in recent months, has exited from major businesses in mobile telephony and cable television.