Camellia subsidiary signs deal for potential sale of tea estate

(Sharecast News) - Camellia confirmed on Thursday that its 74%-owned Indian subsidiary, Goodricke Group, has signed a non-binding memorandum of understanding for the proposed sale of the Leesh River Tea Estate. The AIM-traded firm said the agreement, announced on 16 April via the Bombay Stock Exchange, remained subject to due diligence.

It said that a further announcement would be made if the transaction completes.

At 1422 BST, shares in Camellia were down 1.45% at 4,099.8p.

Reporting by Josh White for Sharecast.com.