Carbon Resources Private Limited entered into a binding term sheet to acquire Certain identified tea estates of McLeod Russel India Limited (NSEI:MCLEODRUSS) for INR 7 billion on August 4, 2023. The purchase price is subject to closing adjustments on account net current assets and net current liabilities. The transaction has been approved by the Board of Directors of McLeod Russel.

Completion of the transaction is subject to execution of the final definitive agreements, consent of the shareholders and the approval of the identified lenders of McLeod Russel. Mcleod Russel plans to use funds from this proposed sale of gardens for the one-time settlement of its debt to lenders. RBSA Valuation Advisors LLP acted as financial advisor to McLeod Russel India Limited (NSEI:MCLEODRUSS).