Tea producers Dhunseri Group and MK Shah Exports are in talks with Tata Global Beverage Ltd to buy its stake in Amalgamated Plantations (APPL), according to a Mint report citing three sources.

Tata Global is valuing 25 estates at about Rs 1,300 crore, one of the sources told Mint.

APPL, formed after Tata Tea divested its plantation business, is India’s second largest tea producer and supplier. It has tea plantations in West Bengal and Assam.

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Dhunseri Group Chairman C.K. Dhanuka told Mint he was taking a close look at several estates in Assam but did not disclose the details. Himanshu Shah, Director of MK Shah Exports, declined to comment.

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「Tata Global continually evaluates its portfolio of businesses and different options in line with its strategy and long-term goals,」 a spokesperson for the company told Mint in an emailed statement

APPL has incurred losses worth Rs 85 crore over the past three years, according to the report.

According to the report, The Tata group holds an additional 24 percent stake in Amalgamated Plantation, taking the group’s total stake in the company to 65 percent.

APPL produces about 40 million kg of tea annually and has an annual turnover of over Rs 500 crore, according to the company’s website.

本文來源:http://www.moneycontrol.com/news/business/companies/two-firms-looking-at-tata-stake-in-amalgamated-plantations-report-2495661.html

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