Bombay Burmah Trading Corporation is all set to sell the plantation land/properties and assets forming part of the 8 coffee estates known as ‘Elkhill Estates’, admeasuring around 2,491 acres (in aggregate) (Identified Assets) to Orange County Resorts and Hotels. The sale consideration will be around Rs 291 crore which will be allocated to each asset in the sale documents, which will be executed between the Parties.
The proposed transfer is subject to certain conditions precedent including completion of due-diligence by the proposed buyer, receipt of necessary approvals, including approvals from shareholders and lenders of Bombay Burmah Trading Corporation and regulatory authorities, if any, and the proposed buyer receiving appropriate authorization to acquire such plantation land.
Bombay Burmah Trading Corporation (BBTCL) is a leading concern of the Wadia Group, a reputed Indian business house with interests in plantations, foods, textiles, chemicals, electronics and light engineering, health care and real estate.
