Freshtrop Fruits
Sells fresh fruit business for 77 Cr + additional deferred consideration for 2 years
It will be used in investment of food processing business & return surplus funds to shareholders
Reason for sell: No growth, high investment & long gestation period, restrictions in farming.
Sell valuation is not very encouraging in my view.
About 100 Cr. ( including deferred revenue ).
However, they sold it out of frustration of poor performance & restrictions and want to improve & focus on food processing business. - Good initiative for a long term plan.
Disc: Invested
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