Jayshree Tea sells 2 estates in TN

Jayshree Tea sells 2 estates in TN
© Provided by The Times of India
Kolkata: B K Birla Group firm Jayshree Tea and Industries (JTIL) is selling two tea estates in Tamil Nadu to one Coimbatore-based group as a part of its restructuring process to strengthen the balance sheet and monitise some assets. Last year, the firm had disposed of two estates in Africa.
In a filing to stock exchanges, the company has said that it has entered into a definitive agreement for selling two estates in Valparai. JTIL, controlled by Jayshree Mohta, the elder daughter of B K Birla, has gardens in India, Uganda and Rwanda. The tea company is also merging its wholly owned subsidiary Majhaulia Sugar Industries as part of the ongoing restructuring.

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