Cargills to sell brewery biz to Lion for Rs. 5.15 b

Saturday, 21 June 2014 00:00 - - {{hitsCtrl.values.hits}}

Cargills (Ceylon) Plc (CARG) said yesterday it has decided to sell its brewery business to Lion Brewery Plc (LION) for Rs. 5.15 billion. The parties concerned LION and its subsidiary Pearl Springs Ltd., and CARG and its subsidiary Millers Brewery Ltd., have entered into a sale and purchase agreement in this connection. The move is subject to due diligence and settlement of all liabilities of Millers Brewery.

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