Hemas Holdings inks deal to acquire majority stake in Kenyan consumer firm

Hemas Holdings PLC (HHL) said on Thursday it entered into a conditional agreement to acquire a majority equity stake in a consumer products company based in Kenya, marking a strategic expansion into the East African market.
The transaction, announced on September 25, is subject to regulatory approvals from the Competition Authority of Kenya and Central Bank of Sri Lanka, along with other customary conditions. Hemas said it expects the deal to close within six months.
The company’s board resolved on September 25 to proceed with the agreement and will update the Colombo Stock Exchange on any further developments.