Sri Lanka tea broker invests Rs233mn to get land for warehouse

ECONOMYNEXT – Ceylon Tea Brokers, a Sri Lankan tea brokerage, said it had acquired a subsidiary of another brokerage which has access to land on which it intends building a warehouse.

A stock exchange filing said Ceylon tea Brokers had entered into a share sale agreement with Lanka Commodity Brokers to buy Logicare Pvt Ltd. for Rs233 million.

Logicare owns the lease to a land in Muthurajawela, north of Colombo port, for 39 years.

The area is home to several warehouses of tea brokers which store tea meant for the Colombo auctions and export.
(COLOMBO, May 12, 2017)

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