Sunshine Healthcare Lanka Ltd (SHL) is to buy Akbar Brothers (Pvt) Ltd (ABL)-owned Akbar Pharmaceutical (Pvt) Ltd (ABPL), the stock market was informed on Thursday.
ABPL is into importing and distribution of medicinal drugs, medical devices, nutritional products and healthcare products and SHL will purchase the entirety of the ordinary voting shares in ABPL. “The consideration for this purchase would be satisfied by the issuance of ordinary voting shares in SHL to ABL, which should constitute 25 % of its share capital. ABL has also agreed with the Sunshine Holdings PLC to purchase a further 3 % of the ordinary voting shares held by the Sunshine Holdings PLC in SHL for a cash consideration of Rs 278.4 million,” a stock market disclosure by Sunshine Holdings PLC said. (DEC)
Ajith Gallage, the owner of a Bird Park in Nagarawawa, Hambantota, has been remanded over allegations of concealing illegally imported motorcycles, in a warehouse owned by him.
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