INDIA: Tata Tea approves restructuring plan
Tata Tea is to restructure its plantation business. In a statement released to the Bombay Stock Exchange the company said it was restructuring in order to focus on its branded business and limit its exposure to increasing costs and volatility in the plantation business.
The Indian tea company has approved plans to sell or lease out its plantation business on 17 estates at Munnar in Kerala. The plantation business will be transferred to a new private company. The restructuring will also see the company sell or lease out its other tea estates and a coffee estate.
Tata Tea is India's largest tea producer by capacity.
- A tobacco analogy soft drinks will want to embrace
- PepsiCo to consider more re-franchising - CEO
- Pernod's Portman Group penalty - a coincidence?
- Cleaning China's seedier side brings Remy balance
- just The Preview - SABMiller's Q1
- Diageo's Captain Morgan Facebook ad banned
- Diageo faces public consultation over W&M sale
- William Grant silent on Drambuie bid talk
- Bacardi to fight US football team legal action
- Remy posts Q1 sales drop as Edrington loss bites