Hindustan Lever on Wednesday announced that it has completely exited from its tea garden business by selling their entire shareholding in it...
Written by Express News Service
Mumbai |
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Hindustan Lever on Wednesday announced that it has completely exited from its tea garden business by selling their entire shareholding in its subsidiary Tea Estates India Ltd (TEIL) to Maxwell Golden Tea, a company of Coimbatore-based Woodbriar Group.
TEIL owns 8 tea estates and 6 factories for processing tea in the high-yielding belt of Tamil Nadu with an average annual output of approximately 10,500 metric tonnes. HLL said the transfer of tea gardens is in best interests of the tea plantation business and all its stakeholders.
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