McLeod Russel's subsidiary to shed stakes in two Rwanda tea companies

Borelli Tea Holdings, a wholly owned subsidiary of McLeod Russel India, has decided to sell its entire shareholding in Gisovu Tea Company, Rwanda, and 50 per cent of its equity shares in Pfunda Tea Company, also in Rwanda.
 
Separate memoranda of understanding (MoUs) have been executed with Rwanda Tea Investments for the Rs 140-crore deal (approximate).
 
Rwanda Tea Investments is 75 per cent held by Luxmi Tea, owners of the iconic Makaibari brand, and 25 per cent by The Wood Foundation Africa.
 
Luxmi Tea director Rudra Chatterjee said, “Luxmi’s focus is on high quality estates and Gisovu