Jay Shree Tea to acquire M.P. Chini Industries

India's News.Net
Monday 22nd March, 2010

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City-based Jay Shree Tea and Industries, a B.K. Birla group company, Monday said it will acquire an unlisted sugar firm M.P. Chini Industries for Rs.112.50 crore by the next month.

Jay Shree Tea informed this to the Bombay Stock Exchange (BSE).

M.P. Chini, with a capacity of 4,600 TCD (tonnes of cane per day) at Majhaulia in Bihar, is having a cogeneration capacity of six megawatt for captive use.

The acquisition cost is being funded through a mix of internal accruals and debts.

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