Agri Business

McLeod Russel's arm to buy Rwanda tea firm

Santanu Sanyal Kolkata | Updated on March 12, 2018

Borelli Tea Holdings Ltd, the wholly-owned subsidiary of McLeod Russel India Ltd, is set to acquire 60 per cent shares of Gisovu Tea Company Ltd, Rwanda, and accordingly a Memorandum of Understanding was signed on Thursday at Rwanda between Borelli Tea Holdings, Rwanda Development Board and Rwanda Tea Authority, according to a company release.

Earlier, at its Cabinet meeting held on February 11, the Government of Rwanda. had taken the share sale decision. “Borelli and McLeod Russel express their gratitude to the Government of Rwanda for reposing trust and confidence in the two companies and the management of Borelli looks forward to playing a positive and pro-active role in the future growth and development of Gisovu and the Rwandan tea industry,” according to Mr K.K. Baheti, Director of Borelli Tea Holdings Ltd.

Published on February 24, 2011

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