McLeod Russel India Ltd
McLeod Russel India Ltd is ready to acquire its foreign counterpart, a Vietnamese tea company. The formers UK-based subsidiary Borelli Tea Holdings Ltd has proposed to get 100 per cent equity in Phu Ben Tea Co.
Mr Aditya Khaitan, Managing Director of McLeod Russel on sharing his vision said, “Our vision is to become a global producer of tea.” He further added that, “This will be certainly our first foray into a foreign country and, for that matter, for any Indian tea plantation company.”
McLeod Russel India Ltd, one of the leading tea producer has informed that its wholly owned arm Borelli Tea Holdings (Borelli), has inked a term sheet with Belgium-based SA SIPEF NV for acquisition of 100 per cent equity stake in Vietnam-based Phu Ben Tea Company at a cost of USD2 million.