- News
- Business News
- India Business News
- Williamson Magor eyes Doom Dooma
Trending
This story is from December 1, 2005
Williamson Magor eyes Doom Dooma
Williamson Magor have a capacity of 63 million kg of Williamson Tea. With Doom Dooma estates the total production capacity will go up to 70 million.
Doom Dooma Tea Company, a wholly owned subsidiary of HLL, has seven tea estates located at Tinsukia in Assam.
Though the market grapevine has it that Williamson Magor has already struck the deal last week, however, a company official said "We are in active discussion."
Top corporate sources disclosed that Williamson Magor has emerged as the frontrunner outsmarting four other suitors that included Dhunseri Group, Warren Group, Apeejay Group and MK Shah of Mumbai.
The Williamson Magor group has already become the biggest tea producer in the country having a capacity of 63 million kg after the acquisition of Williamson Tea.
With Doom Dooma estates in its fold the total production capacity will go up to 70 million. Market sources disclosed that the deal value might be close to Rs 70 crore and the payments are likely to be staggered over a period of three-four years.
The deal is believed to be negotiated at the rate of Rs 105 per kg. HLL has already announced coming out
of plantation business and focus entirely on tea marketing.
End of Article
FOLLOW US ON SOCIAL MEDIA
Hot Picks
TOP TRENDING
Trending Stories
In Business
Entire Website
- Will banks open only for 5 days a week? Here’s what you should know about IBA’s proposal
- India set to be third largest economy, says S&P Global
- Dalal Street bull run continues! BSE Sensex crosses 69,000 for the first time; Nifty above 20,800
- Byju’s reduces notice period for employees as troubles mount
- Sensex surges over 900 points, Nifty above 20,550 as BJP state election wins bolster Modi's Lok Sabha 2024 prospects
- UltraTech to buy building materials business of Kesoram in 7,600 crore deal
- Tata Technologies stock debuts at a bumper 140% premium; share price at Rs 1200 on BSE
- Tata Technologies share allotment: How to check IPO allotment status, listing date, GMP
- BSE m-cap rides rally in Adani stocks, tops $4 trillion
- Charlie Munger, who helped Warren Buffett build Berkshire, dies at 99
- 'Very hard to believe that ... ': HC calls for fair, impartial probe in Badlapur encounter
- Karnataka court orders probe against Siddaramaiah in Muda 'scam'
- How Kejriwal’s ‘soft Hindutva’ has alienated Muslims
- J&K polls: Over 36% voter turnout recorded till 1pm in phase 2 elections
- 'Kangana's baseless, illogical rants damaging party': BJP spokesperson
- Canadian PM Justin Trudeau faces no-confidence vote in Parliament
- Drugs, sex, baby oil - the ‘freak-offs’ at the core of rap star's troubles
- Former Amazon engineer’s post on ‘wild tricks’ employees used to not work from office
- EY employee death: Probe finds MNC lacked labour welfare permit
- When Rishabh Pant breached fortress Gabba for India's historic victory
Popular Categories
Hot on the Web
Top Trends
Trending Topics
Living and entertainment
Latest News
Who is Laurene Powell Jobs? Invisible hand behind Kamala Harris's rise"I got the utmost respect for him": Cowboys' CeeDee Lamb Makes An Emotional Apology Following His Argument With Dak PrescottGovernment urges these Microsoft users to immediately update their devicesWatch: Pit Bull saves children from snake attack in Jhansi4 injured after elephant overturns autorickshaw in Kerala's Idukki4 Telangana cops injured during protest over sexual assault on 6-year-old girl by teacherHere’s why free airport lounge access was denied for many flyersChina holds rare test of ICBM into Pacific to show its mightWWE RAW Suffers Lowest Viewership of 2024 Amidst Competition from Two Monday Night Football Games on September 23'Shouldn't BJP's retirement rule apply to PM Modi?': In letter to RSS chief Mohan Bhagwat, Kejriwal poses five questionsWhy you should avoid falling for your best friendJasmine Bhasin pens a heartfelt note for beau Aly Goni on staying away from 11 days, writes 'For the first time in around 6.5 years'Alia Bhatt reveals she and Ranbir Kapoor chose Raha's name at Jr NTR's house: 'He wished to pick the same name for his daughter'Single bullet mark found on left side of Badlapur Pocso accused's head: Autopsy reportHere’s what ChatGPT maker Open AI CEO has to say on taking psychedelic drugs that made 8 tech CEOs quitKamala Harris let 21 million people enter US, many terrorists: Donald TrumpAbhay Deol asks suggestions for long drive tracks, fans list out 'ZNMD' songs'Bhool Bhulaiyaa 3' teaser starring Kartik Aaryan, Triptii Dimri, and Vidya Balan set to release on THIS date
Copyright © 2024 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service