Reply To:
Name - Reply Comment
Last Updated : 2024-05-08 00:01:00
14 July 2016 09:43 am - 0 - {{hitsCtrl.values.hits}}
Sri Lanka’s Browns group yesterday cut its exposure to mini hydropower sector by divesting the controlling stake of its mini hydro subsidiary Browns Hydro Power PLC. Accordingly, Browns Power Holdings (Pvt.) Ltd and Pussellawa Plantations Ltd, both Browns group subsidiaries, yesterday divested their collective shareholding of 67 percent in Browns Hydro Power PLC in a Rs.519 million deal. Both parties held 37,044,056 shares each and the divestment of shares was carried at Rs.7 per share.
The buyer of the shares was Lotus Renewable Energy (Pvt.) Ltd, of which not much detail is available in the public domain.
Since the deal triggered the 30 percent rule of the Mergers and Acquisition Code of the Securities and Exchange Commission, Lotus Renewable Energy is expected to call a mandatory offer to purchase the remaining shares of Browns Hydro Power PLC.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul
07 May 2024 - 2 - 1337
06 May 2024 - 3 - 1205
