McLeod Russel buys HLL tea plantations for Rs 69cr

Hindustan Lever (HLL) has signed a memorandum of understanding (MoU) with McLeod Russel India to transfer its 100% shareholding in Doom Dooma Tea Company (DDTCL).

According to a release issued by HLL to the BSE today, the deal was finalised for Rs 69 crore plus net current assets of DDTCL as on December 31, 2005.

"DDTCL owns seven tea estates in the Tinsukia district of Assam, with a tea planted area of approx 3,100 hectares and three factories to process tea. The average output from the tea estates has been approximately 6,000 metric tonne," the release added.