Sri Lanka’s Expo buys foreign company for $42.5 mln

Business

EFL Global LLC (EFL USA), a fully owned subsidiary of Sri Lank’s Expolanka Holdings PLC (Expolanka) has acquired 100 per cent equity interest of Trans American Customhouse brokers LLC and its related companies (Trans American Group) on 24th February 2023, for US$42. 5 million, the Colombo Stock Exchange was informed on Monday.

Established in 1984, Trans American Group is a leading Customs House Broker in North America with a history of nearly 40 years servicing a range of leading brands in the US and Canada. The acquisition will enable EFL to extend its brokerage services to its existing customer base thereby enhancing service portfolio to existing customers, expand its customer base and scale its operations across North America.

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