TWG shareholders in legal dispute

TWG Tea founder Manoj Murjani, under his company The Wellness Group, is claiming in a lawsuit that its other directors are in cahoots to diminish his stake in the company.

He wants the Singapore High Court to overturn majority shareholder OSIM’s recently acquired 70% stake in TWG back to 53.7%.

Murjani is also suing partners Ron Sim, founder of OSIM, and Taha Bouqdib, TWG Tea’s other founder.

OSIM, which first invested $31.36 million for a 35% stake in TWG in 2011, plans to counter-claim the lawsuit.

TWG Tea is a luxury tea company established in Singapore 2007.

The company’s tea salons are located across Asia, the Middle East and London.

Source: Channel NewsAsia

Photo: TWG’s Facebook page

 

 

 




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