Ube buys 10-pct stake in Sri Lankaâ€™s Tokyo Cement Company
ECONOMYNEXT – Ube Singapore Holdings Pte Ltd. has acquired a 10% stake in Sri Lanka’s Tokyo Cement Company (Lanka) in a deal worth Rs769.8 million, a stock exchange filing said.
Tokyo Cement Company said Ube Singapore Holdings Pte Ltd. bought 10,692,000 ordinary voting shares at Rs72 each.
Ube is a diversified Japanese group with the Singapore unit involved in sales of chemicals and building materials in Southeast Asia as well as materials purchasing.
(COLOMBO, June 27, 2017)