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No Deal Brewing—McLeod Russel Shuts Down Phoenix Acquisition Rumours

Updated: July 22, 2025 21:26

Image Source : Mcleod Russel
McLeod Russel India Ltd has officially refuted recent market speculation regarding a potential acquisition by Phoenix. In a regulatory filing under SEBI’s Regulation 30(11), the company stated that the rumours are baseless and no such transaction is under consideration.
 
Key Highlights:
 
- The clarification follows widespread reports suggesting Phoenix’s interest in acquiring McLeod Russel
 
- The company emphasized that it has not received any formal proposal or engaged in talks with Phoenix
 
- McLeod Russel remains focused on its ongoing debt resolution efforts with lenders and NARCL
 
- The statement aims to prevent misinformation and protect shareholder interests amid insolvency proceedings
 
- The company continues to operate under the oversight of the National Company Law Tribunal (NCLT) and its appointed resolution professional
 
Strategic Context:
 
This clarification comes at a critical juncture as McLeod Russel navigates financial restructuring and seeks stability in India’s tea sector.
 
Sources: Rediff MoneyWiz, Economic Times, Telegraph India, Trendlyne

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