Tuesday, 8 April 2014 00:01
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Lankem Ceylon Plc announced yesterday it has purchased the entirety of the shares of Ceylon Tapes Ltd. (0.8 m ordinary shares and 0.2 m preference shares), which is engaged in the business of manufacturing and trading of adhesive tapes, for Rs. 130 million.
Lankem also announced that it purchased an equity stake of 43.6% of Waverly Power Ltd. from Agarapatana Plantations Ltd. for Rs. 102 million. Both companies, Waverly Power Ltd. and Agarapatana Plantations Ltd., are indirect subsidiaries of Lankem.
