McLeod Russel may manage Eveready’s packet tea business
DSIJ Intelligence / 10 Aug 2017
Tea producer McLeod Russel is likely to take over the management of the packet tea business of Eveready Industries, reported a leading business daily, quoting Aditya Khaitan, Vice Chairman, Williamson Magor Group.
Tea producer McLeod Russel is likely to take over the management of the packet tea business of Eveready Industries, reported a leading business daily, quoting Aditya Khaitan, Vice Chairman, Williamson Magor Group.
Eveready is planning to separate its packet tea business and integrate it with McLeod Russel.
The company’s board has decided to initiate discussions with Eveready Industries India Limited for participating in a joint venture as a strategic business partner for the development of packet tea business through a separate entity.
The tea producer has tea estates in West Bengal and Assam and also in Africa and Vietnam. The tea industry is looking at 60-70 million kg shortage of tea in Africa this year with market prices likely to go up.
Meanwhile, the stock slipped 1.77% at Rs 174.55 per share on the BSE. It attracted a total traded quantity of 1,470 shares,
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