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| Exchange Disseminated Time | | Mcleod Russel India Ltd has informed BSE that Borelli Tea Holdings Limited, the wholly owned subsidiary of the Company has agreed in principle to sign a Share Purchase Agreement with LAB International Ltd., U.K. for acquisition of its 90% shares held in Pfunda Tea Company Ltd., Rwanda, engaged in tea plantation and manufacturing activities for the aggregate sum of US$ 19,500,000. On completion of the deal in terms of the Share Purchase Agreement, Pfunda Tea Company Ltd., will become a step-down subsidiary of the Company. |
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