Dhunseri Tea & Industries Limited (BSE:538902) entered into a memorandum of understanding to acquire Budlabeta Tea Estate and Hapjan Tea Estate from Apeejay Tea Ltd. for INR 1.1 billion on December 5, 2022. As on January 19, 2023, Apeejay Tea Ltd. entered into agreement to sale with Dhunseri Tea & Industries Limited (NSEI:DTIL) to sale Budlabeta Tea Estate and Hapjan Tea Estate. Consideration will be paid in cash. The transaction is subject to necessary due diligence. The transaction is expected to complete on January 31, 2023. Asim Choudhury and Dipen Chatterjee of Khaitan & Co. acted as legal advisor to Dhunseri Tea & Industries Limited (NSEI:DTIL).

Dhunseri Tea & Industries Limited (BSE:538902) completed the acquisition of Budlabeta Tea Estate and Hapjan Tea Estate from Apeejay Tea Ltd. on January 20, 2023.