Jutlibari Tea And Plantations LLP entered into an agreement to acquire certain tea estates from Gillanders Arbuthnot and Company Limited (BSE:532716) for approximately INR 160 million on February 28, 2020. The transaction is expected to be completed on March 1, 2020. The proceeds of the sale may be used by Gillanders Arbuthnot to reduce the debts and improve the overall profitability. Jutlibari Tea And Plantations LLP cancelled the acquisition of certain tea estates from Gillanders Arbuthnot and Company Limited (BSE:532716) on February 28, 2021.