Tata Tea to sell stake in Northern Plantations

Tata Tea to sell stake in Northern Plantations
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First Published: Tue, Feb 20 2007. 05 27 AM IST
Updated: Tue, Feb 20 2007. 05 27 AM IST
Mumbai: Tata Tea Ltd has said it will sell its majority holding in North Indian Plantations Operations to a group of investors, including the International Finance Corp.
Tata Tea will sell a 20% stake in the estate to IFC, another 20% to IL&FS Investment Managers Ltd, and some to investors including Global Managed Services, vice-chairman R.K. Krishna Kumar said. Tata Tea is selling its tea gardens because it is focusing on increasing its share of the branded and speciality tea market.
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First Published: Tue, Feb 20 2007. 05 27 AM IST
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