Thursday Apr 30, 2026
Thursday Apr 30, 2026
Thursday, 30 April 2026 00:20 - - {{hitsCtrl.values.hits}}
Hela Apparel Holdings PLC yesterday confirmed the divestment of its stake in UK-based Focus Brands Ltd., to Emerald Investments Ltd., for a total consideration of $ 8 million.
The company said its wholly-owned subsidiary, Hela Brands Ltd., (Mauritius), sold the entirety of its shareholding in Focus Brands Ltd., to two investors, Mohamed Salim Suhurdeen and Mohamed Salihu Fazeldeen, who are the shareholders of Emerald Investments.
The Share Sale and Purchase Agreement was signed on 14 April, with the transaction now completed and consideration settled in accordance with the agreement.
The divestment follows approval granted by shareholders at an Extraordinary General Meeting held on 3 April, authorising the sale of the full stake held by Hela Brands, thereby effecting a complete exit from Focus Brands. The company noted that the two investors were the strategic parties referenced in the circular to shareholders dated 25 March, which did name them then.
The share price of Hela Apparel closed unchanged yesterday at Rs. 2.90.
The acquisition forms part of a broader move by Emerald to take over and stabilise selected operations previously run by Hela, amid liquidity constraints and ongoing legal proceedings at the Group.
The investor group has indicated that manufacturing operations, including facilities in Thihariya and Palapathwala, as well as design and development functions in the UK and US, will continue under its management, with a focus on maintaining export continuity, supporting employment, and preserving relationships with international buyers.
