Response regarding the sale of the Lipton tea estates to Browns Investments, 20th August 2024

Sinendet Tea Multi-purpose Co-operative Society (Sinendet) chose 101 Partners to represent them in a comprehensive process for the sale of the LIPTON Teas and Infusions tea estates that began in late 2023. 101 Partners submitted a final offer from the consortium ahead of the bid deadline of 12th January 2024.

All the parties who expressed an interest in acquiring these tea estates were fairly considered, given equal access to the sale process, and transparently engaged with throughout. The sale was overseen by local and international experts and structured to ensure compliance with all laws, including all relevant land-related laws.

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Recognising that communities are important to the success of the local tea industry .... LIPTON Teas and Infusions subsequently agreed to meet with Sinendet to explore local community development. 101 Partners appeared unannounced at a meeting arranged on 23rd April 2024, evidencing that 101 Partners and Sinendet continued their arrangement beyond completion of the sale process ....

The transaction with Browns has since been successfully approved by the various Kenyan authorities and subsequently completed.

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Full response included below.