Lanka Aluminium sells Classic Teas control for Rs. 77 m to Indian firm
Wednesday, 15 October 2014 00:56
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Lanka Aluminium Industries Plc said yesterday that the Board has resolved to sell 68% stake in Classic Teas Ltd., for Rs. 76.7 million to Kolkata–based Asia Tea Company Ltd.
The stake amounting to 3 million shares will be divested at Rs. 25.59 per share.
The Company said the deal was subject to regulatory approvals and will be sold to Asia Tea or its nominees.
