MoU14 Sept 2024, 12:03 am
James Warren Tea Ltd Enters MOU with Varun Choudhary for Sale of Rajah Alli Tea Estate
AI Summary
James Warren Tea Ltd has entered into a Memorandum of Understanding (MOU) with Mr. Varun Choudhary and his associates for the sale of Rajah Alli Tea Estate. The estate, located at P.O. Hoogrijan, District-Dibrugarh, Assam 786601, contributed approximately 9.3% of the company's turnover last financial year. The sale consideration is Rs. 19.00 crores, subject to adjustment for the value of current assets and current liabilities. The transaction is not a related party transaction and is expected to be completed by 30th November, 2024 or any date as mutually decided after due diligence is carried out by the purchaser.
Key Highlights
- James Warren Tea Ltd has signed an MOU with Varun Choudhary for the sale of Rajah Alli Tea Estate.
- The estate contributed approximately 9.3% of the company's turnover last financial year.
- The sale consideration is Rs. 19.00 crores, subject to adjustment for the value of current assets and current liabilities.
- The transaction is expected to be completed by 30th November, 2024 or any date as mutually decided.
- The purchaser does not belong to the Promoter or Promoter group of the Company.