Indian company to buy British tea firm Typhoo-paper

By agencies   |   Wednesday, 28 September 2005, 07:00 Hrs
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MUMBAI: Kolkata based Apeejay Surrendra group is close to acquiring British tea brand Typhoo for less than 100 million pounds, the Times of India newspaper reported today.

Typhoo is Britain’s third-biggest tea brand after Unilever’s PG Tips and Tata Tea's Tetley. Apeejay group, which has interests in plantation, hospitality and bookstores, did not comment.

The acquisition would be funded through a mix of equity and debt, and private equity funds had invested about 17 million pounds, the paper said.

The world’s second largest tea company, Mumbai based Tata Tea bought Tetley for $432 million in 2000.

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