Its subsidairy, Borelli Tea Holdings acquires 90% shares in Pfunda Tea Compan
Mcleod Russel India announced that Borelli Tea Holdings on 26 November 2014 has signed the Share Purchase Agreement with L.A.B. International, U.K. for acquisition of its 90% Shares held in Pfunda Tea Company (PTC), Rwanda, and pursuant to the said Agreement has on 26 November 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 has become a subsidiary of Borelli Tea Holdings and a step-down subsidiary of McLeod Russel India with effect from 26 November 2014.Powered by Capital Market - Live News