The local buyers and the representatives of the company exchanged views at an informal get together at a hotel in the capital last night. The Bangladeshi buyers will leave Dhaka on February 14 to attend the ceremony, according to sources.

A local business consortium comprising eight leading entrepreneurs bought century old 17 tea gardens owned by Finley at a cost of Tk 380 crore.

This is going to be the biggest take over by local entrepreneurs under a single deal from a multi national company. Few weeks ago a memorandum of understanding (MoU) was signed between Finley and the buyers' consortium.

The buyers are keeping the deal secret as a business strategy, sources said.

MM Ispahani, Pedrollo Pump Group, the local agent of DHL, Uttara Motors, the local agent of an American lubricant manufacturer Mobil, and three leading ship breaking industry owners of Chittagong are in the consortium.

Finley was sold to a Hong Kong based British company Swire a few years ago, according to the sources.

The British company is winding up its business from Bangladesh following the government's policy changes regarding leasing out of land for tea cultivation and mismanagement in the local management.

The government recently restricted the lease period from 99 years to 35 years. On the other hand business diversification by the Hong Kong based Swire might be another reason for closing the business in Bangladesh, the sources said.

Tea experts, however, fear a negative impact on the tea sector following the take over of the country's one of the oldest tea companies by the people who had not been involved with tea business.