Melstacorp buys slices of Balangoda and Madulsima from related parties

In two related party transactions reported to the Colombo Stock Exchange in Sept. Melstacorp PLC, the Harry Jayawardena controlled holding company of the Distilleries Company of Sri Lanka and substantial stakeholder of several quoted blue chips has purchased large slices of Balangoda and Madulsima Plantations PLC from two other Jayawardena-controlled companies, Stassen Exports and Milford Exports.

However the controlling 93.48% of Madulsima and 58.61% of Balangoda has not changed as the transactions were between related parties, the stock exchange filings said.

Melstacorp purchased approx 16.94 million shares of Madulsima at a price of Rs. 17 per share from Stassen Exports and approx. 3.64 million shares of Balangoda from Milford Exports at Rs. 32 a share.

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