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Tea Producer McLeod Russel India Gets $157 Million Takeover Bid

  • Carbon Resources picks up about 5% stake in McLeod Russel
  • Potential acquirer seeks to resolve McLeod Russel’s debt woes
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Debt-laden McLeod Russel India Ltd., one of the country’s largest tea producers, has received a $157 million takeover offer after an electrode-paste maker picked up about a 5% stake even as its lenders try to hammer out a debt-resolution plan.

In the letter of intent sent to creditors handling McLeod Russel’s insolvency proceedings, the potential acquirer Carbon Resources Pvt. Ltd offered to pay off the tea-grower’s lenders.