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Browns Investments PLC Acquires A 90% Stake In 2 Plantations
Posted 24,December

By Chaveendra Dunuwille

In Local News

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For a cumulative investment of LKR 1.9 billion, Browns Investment PLC has entered into a transaction agreement with James Finley Ltd on the 22nd of December, 2021, to acquire a 90% stake in two plantations. 

In the complete disclosure letter sent to the Colombo Stock Exchange, it was revealed that Browns Investment PLC acquired a 90% stake in both Udapusellawa Plantations and Hapugastenne Plantations for LKR 42 and LKR 28.30 per share, respectively. 

The letter also notified that a mandatory takeover of the remaining shares from all other stakeholders would occur according to the rules specified by the CSE.