*Jay Shree Tea & Industries Ltd* is acquiring a company in the agro – commodity space for about Rs 120 Cr. The company has not disclosed the name of the target; however, there are rumors that it is buying a Bihar based unlisted sugar company.
Jay Shree Tea – *BK Birla Group Company *– is engaged in the manufacturing and sale of tea, chemicals and fertilizers. Jay Shree produces 21.80 Mtpa of tea. It has 21 tea estates. Transaction Reference: ET<http://economictimes.indiatimes.com/news/news-by-industry/cons-products/food/Jay-Shree-Tea-lines-up-Rs-120-cr-for-acquisition/articleshow/5669497.cms> Transaction Note Jay Shree has recently entered into a lease agreement with state-owned *Assam Tea Corp* to manage two of its tea estates — Longai and Ishabheel — which collectively produce 6 lakh kg of black tea annually. Jay Shree might end up buying these tea estates, as it had followed a similar strategy earlier as well. It entered into a management agreement with Darjeeling Consolidated Tea Co for their tea estates in Darjeeling and later bought it out. Jay Shree has been looking for overseas acquisitions for quite some time now. Last Year, JayShree Tea acquired *Jayantika Tea Co Ltd*. It has also entered into a JV with Rwandan firm to acquire tea plantations in Africa. For the quarter ended Dec’09, the company's net profit rose 12.58 times to Rs 33.2 Cr from Rs 2.640 Cr in the same quarter last year. Net sales for the quarter declined marginally 3.38% to Rs141.9 Cr compared to Rs 146.91 Cr for the same quarter a year ago, while total income for the quarter fell marginally 1.13% to Rs 144.39 Cr, when compared with the prior year period. *Sugar Mills in Bihar * Name Crushing Capacity (in TCD) Bagaha 2,500 Harinagar 8,500 Narkatiaganj 5,000 Manjhaulia 3,500 Sasamusa 2,200 Gopalganj 5,000 Sidhwalia 2,500 Hasanpur 1,750 KVEZAR® VIEW DEAL TRACKER FOR DateTypeSub TypeBuyerSize Jay Shree - Unknown Acquisition Target 11/03/10 M&A Acquisition Jay Shree Tea and Industries Ltd. 26.44 Dhanalaxmi Bank - Unknown Asset(AMC) 11/02/10 M&A Acquisition Dhanalakshmi Bank Ltd. 0.00 Spice Fin - Unknown Asset 06/01/10 M&A Acquisition Spice Investments and Finance Advisors Pvt. Ltd. 0.00 Recent Transactions In The Sector DateTypeBuyerTargetSizeState 11/03/10 M&A Jay Shree Tea and Industries Ltd. Unknown Asset 26.44 Planned 04/03/10 DEBT Karuturi Global Ltd. 75 Planned 04/03/10 DEBT Karuturi Global Ltd. 75 Planned 22/02/10 M&A Shree Renuka Sugars Ltd. Equipav S.A. Acucar E Alcool 329.00 Announced Profiles Company NamePromotersOfficeCompetitorWebsite Jay Shree Tea and Industries Ltd. B K Birla Group INDUSTRY HOUSE 10 CAMAC STREET KOLKATA-700017 West Bengal Tata Tea Ltd. Bombay Burmah Trading Corporation Ltd. Mcleod Russel India Ltd. Assam Company India Ltd. www.jayshreetea.com Unknown -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
