Sri Lankaâ€™s Browns sells 61-pct stake Agalawatte Plantations
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)