Lanka Ceylon Group has acquired Kiffs Ltd., a manufacturer and distributor of PET bottles, for Rs. 225 million.
The acquisition is through Lankem, a fully-owned subsidiary of J.F. Packaging Ltd., in which the parent invested Rs. 320 million last month to take over the remaining 27.5% stake.
The move was to acquire 27.5% stake in JF Packaging Ltd. for Rs. 320 million. With the latest purchase, JF Packaging becomes a fully-owned subsidiary. In 2015, Lankem acquired 72.5% stake for Rs. 600 million.
www.ft.lk
The acquisition is through Lankem, a fully-owned subsidiary of J.F. Packaging Ltd., in which the parent invested Rs. 320 million last month to take over the remaining 27.5% stake.
The move was to acquire 27.5% stake in JF Packaging Ltd. for Rs. 320 million. With the latest purchase, JF Packaging becomes a fully-owned subsidiary. In 2015, Lankem acquired 72.5% stake for Rs. 600 million.
www.ft.lk
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