Dalmia Bharat Sugar and Industries Ltd Acquires 51% Stake in Eagle Agrotech Holdings Limited for $1 Million

Dalmia Bharat Sugar and Industries Limited has entered into a Share Subscription cum Shareholders Agreement with Eagle Agrotech Holdings Limited (EAHL) and H.E. Mr. Mohamed Ali Rashed Alabbar. The agreement entails the acquisition of 51% control in EAHL, a holding company of Eagle Agrotech Tanzania Limited (EATL), which is in the process of establishing sugarcane plantation and sugar factory in Tanzania. The acquisition is expected to be completed within six months, with a cash consideration of up to $1 Million. EAHL is presently owned by the family office of H.E. Mr. Mohamed Ali Rashed Alabbar, with a history of last 3 years turnover.