Renuka Consumer Foods sells 21% stake in Shaw Walla for Rs. 211 m

Saturday, 1 March 2014 06:40 -     - {{hitsCtrl.values.hits}}

Coco Lanka (COCO) announced yesterday that its fully owned subsidiary, Renuka Consumer Foods has sold 19.7mn ordinary voting shares in Shaw Wallace Ceylon Ltd for a consideration of Rs.211mn ordinary voting shares (21% of voting shares) to C. J. Patel and Company Ltd, Fiji. Subsequent to the transaction, Renuka Consumer Foods holds 42% of the issued voting shares and 76% of the issued non-voting shares of Shaw Wallace Ceylon Ltd whilst C. J. Patel Company Ltd. Fiji and its nominees hold 42% of the issued voting shares.