Sri Lanka Browns group sells hydropower unit for Rs519mn
ECONOMYNEXT – Sri Lanka’s Browns Capital group said it had sold a 68% stake in a hydropower subsidiary to Lotus Renewable Energy (Pvt.) Ltd. for Rs519 million on the Colombo stock exchange.
The deal to sell control of Browns Hydro Power PLC was done at Rs7 per share, a stock exchange filing said.
Browns group subsidiaries, Browns Power Holdings (Pvt.) Ltd and Pussellawa Plantations Ltd, sold their stakes of 33.96% each in Browns Hydro Power PLC.
(COLOMBO, July 14, 2016)