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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.
