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The world’s largest tea planter, Mcleod Russel Ltd on Wednesday announced the acquisition of a tea processing factory in the Doan Hung District, Phu Tho Province in Vietnam.
The acquisition was made from the Ngoc Hai Company Ltd for a consideration of Rs 12.56 crore (or $ 20,93,700) through its step-down subsidiary, Phu Ben Tea Company Ltd, in Vietnam.
The factory has an annual capacity of 12 lakh kgs.
An agreement in this regard was signed today, the company said in a filing to the bourses.
“…. Phu Ben Tea Company Limited…..has signed an Agreement…..with Ngoc Hai Company Limited for acquisition of a factory in Doan Hung District, Phu Tho Province, Vietnam with annual production capacity of 12 Lakh kgs ….. at a price of $ 2,093,700……..”, the filing read.
Shares of the Kolkata-based company closed at Rs 301.30, up by 1.52 per cent, at the BSE on Wednesday.
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