Mcleod Russel India announces cessation of step down subsidiary - Gisovu Tea Co., Rwanda

Mcleod Russel India announced that the transaction for sale of the equity stake held by Borelli Tea Holdings, UK, the Wholly Owned Subsidiary of the company in Gisovu Tea Co., Rwanda being 60% of the Paid up Capital of Gisovu, in terms of the Memorandum of Understanding (MOU) signed between Borelli and Rwanda Tea Co., UK has been completed on 26 March, 2019 by virtue of completion of the Share Transfer Process. In view of the above, Gisovu has ceased to be a Subsidiary of Borelli and Step-Down Subsidiary of the company.

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