Indonesia’s PrimeCo takes 40-pct stake in Sri Lankan packaging firm

ECONOMYNEXT – PrimeCo Group, an Indonesian commodity trader and property developer has taken a 40% stake in Sri Lanka’s Sunshine Packaging, a Sunshine Holdings group subsidiary specializing in making metal cans for tea and spice exports.

Sunshine Holdings said in a stock exchange filing that Primeco Holdings, a Hong Kong registered unit of PrimeCo Group, has bought almost 23.8 million new shares of Sunshine Packaging, amounting to a 40% stake, for two million US dollars.

Sunshine Holdings’ stake in Sunshine Packaging after the share sale would be 60%, it said.
(COLOMBO, May 27 2016)