Sri Lanka’s Browns sells 61-pct stake Agalawatte Plantations
Mar 27, 2017 19:09 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s Browns Group has sold a 61% stake in Agalawatte Plantations to D. R. Investment (Pvt) Ltd, a stock exchange filing said.
Browns sold 15,274,527 million shares at Rs18 a share in a Rs274.9 million deal.
Its controversial acquisition of the loss-making Agalawatte Plantations from Mackwoods group had been challenged in court.
(COLOMBO, March 27, 2017)