Sale10 Dec 2024, 02:05 am
James Warren Tea Ltd to Sell Dhoedaam Tea Estate to Rossell India Limited for Rs. 64.20 Crores
AI Summary
James Warren Tea Ltd has entered into an agreement with Rossell India Limited for the sale of Dhoedaam Tea Estate. The estate contributed 25.3% of the company's turnover last financial year. The sale consideration is Rs. 64.20 crores, inclusive of the right to use land, plantation, factory, other buildings, plant & machinery, and other assets. Rossell India Limited, based in Kolkata, West Bengal, is engaged in the business of cultivation, manufacture, and sale of tea. The agreement was signed on 09.12.2024, and the sale is expected to complete after due diligence by the purchaser. The purchaser does not belong to the promoter or promoter group of the company.
Key Highlights
- James Warren Tea Ltd to sell Dhoedaam Tea Estate to Rossell India Limited
- Sale consideration is Rs. 64.20 crores
- Dhoedaam Tea Estate contributed 25.3% of the company's turnover last financial year
- Sale includes right to use land and plantation, factory and other buildings, plant & machinery and other assets
- Rossell India Limited is based in Kolkata, West Bengal and engaged in tea business