The Bombay Burmah Trading Corporation Limited to sell 3 tea estates in Tanzania

The Board of directors of The Bombay Burmah Trading Corporation Limited has decided to sell the plantation land/properties and assets forming part of all the 3 Tea estates in Tanzania, admeasuring approximately 3957 acres (in aggregate) ("Identified Assets") to Udongo Wetu Limited, Dar es Salaam, Tanzania for the total consideration of USD 1.2 Mn to be allocated to each assets in the sale documents, which will be executed between the parties.

The proposed sale is subject to the receipt of necessary approvals, approvals form regulatory agencies, if any and the proposed buyer receiving appropriate authorization to acquire such plantation land.

Shares of Bombay Burmah Trading Corporation Limited was last trading in BSE at Rs. 923.65 as compared to the previous close of Rs. 903.70. The total number of shares traded during the day was 3315 in over 380 trades.

The stock hit an intraday high of Rs. 936.45 and intraday low of 899.10. The net turnover during the day was Rs. 3070412.00.

Source : Equity Bulls

Keywords

BombayBurmahTradingCorporation INE050A01025 BBTC Sale TeaEstates Tanzania