Friday Jul 31, 2026
Friday Jul 31, 2026
Friday, 31 July 2026 00:00 - - {{hitsCtrl.values.hits}}
Bogala Graphite Lanka PLC has announced an indirect change of control following the transfer of ownership of its majority shareholder, Graphit Kropfmühl GmbH, to a subsidiary of Asbury Advanced Materials Group.
The company yesterday said it had been informed by Graphit Kropfmühl GmbH that AMG Critical Materials N.V. had transferred all of its shares in the German company to a wholly owned subsidiary of Asbury Advanced Materials Group, formerly known as Asbury Carbons Inc.
AMG Critical Materials announced the conclusion of the $ 65 million deal on 28 July after the initial announcement was made last October.
The transaction results in an indirect change of control of Bogala Graphite Lanka, as Graphit Kropfmühl GmbH remains the company’s controlling shareholder.
As of 31 March 2026, Graphit Kropfmühl GmbH held more than 81.8 million shares, representing an 86.46% stake in Bogala Graphite Lanka. The Government of Sri Lanka was the second-largest shareholder with 509,000 shares, equivalent to a 0.54% stake, while the public held 13.54% of the company, comprising more than 12.8 million shares.
The company did not disclose the value of the transaction or indicate any changes to the company’s operations, management or business strategy arising from the ownership change.
Bogala Graphite shares closed Rs. 2.75 lower yesterday at Rs. 134.
