“Bulk tea producer McLeod Russel is selling three estates in Assam to city-based Luxmi Tea Company for an estimated value of around Rs 150.5 crore. In a notification to stock exchanges on Monday, McLeod Russel said, it has executed an agreement for sale of specified assets of Addabarie Tea Estate, Mahakali Tea Estate and Dirai Tea Estate on April 22, 2019,” reported The Times of India.

Khaitan & Co advised McLeod Russel India Limited led by a team of partner Padam Khaitan, partner Devidas Banerji, senior associate Shourya Sengupta and associate Sneh Lata.

Khaitan had also advised the company in December 2018 on its sale of tea estates to MK Shah Exports.

Deal value: INR 150.45 crores (USD 22 million).

2019-04-23

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