Lion Brewery on Friday said that it is buying the beer business of the Cargills Group at a price of Rs. 5.15 billion. In an announcement in the Colombo Stock Exchange, the Carsons Group said its subsidiary Lion Brewery (Ceylon) and Pearl Springs (part of Lion) have entered a Sale and Purchase Agreement with Cargills [...]

The Sundaytimes Sri Lanka

Lion Brewery buys 3Coins beer

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Lion Brewery on Friday said that it is buying the beer business of the Cargills Group at a price of Rs. 5.15 billion.

In an announcement in the Colombo Stock Exchange, the Carsons Group said its subsidiary Lion Brewery (Ceylon) and Pearl Springs (part of Lion) have entered a Sale and Purchase Agreement with Cargills and Millers Brewery to purchase the shares and trademaks of Millers Brewery.

It said a separate disclosure would be made upon completion of the transaction. The Business Times last week reported that Cargills was looking for a buyer for its beer business.

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