Sunshine, Pyramid Wilmar conclude Rs. 910.4 m deal

Sunshine Holdings Plc and Pyramid Wilmar Plantations Ltd., have concluded a Rs. 910.4 million share purchase deal first announced in November last year.

Under a joint venture arrangement between Tata Global Beverages Ltd and Pyramid Wilmar, Sunshine Holdings has sold 5.59 million shares or 17.85% stake in Estate Management Services Ltd., to Pyramid Wilmar for Rs. 910.34 million.

The sale has reduced Sunshine’s stake in the subsidiary to 33.15%.