Sri Lankan brewer invests in restaurants subsidiary
ECONOMYNEXT – Ceylon Beverage Holdings Ltd., a Sri Lankan brewer, said it invested more money in Pubs ‘N Places (Private) Ltd. (PNP), a fully owned subsidiary that owns and franchises out restaurants.
A stock exchange filing said Ceylon Beverage Holdings subscribed to 26 million shares in Pubs ‘N Places (Private) Ltd. at 10 rupees each, worth 261.9 million rupees, by capitalising part of the current account it has with its parent to infuse further share capital into PNP.
Ceylon Beverage Holdings is part of the Carson group that has a controlling stake in Lion Brewery (Ceylon) PLC, another Carson group firm.
(COLOMBO, April 18, 2017)