Browns Investments PLC announced to Colombo Stock Exchange that that Browns Investments PLC has acquired 50,000,000 shares of F L C Joint Venture Company (Pvt) Ltd, which is 50% of the stated capital of the Company, from Perpetual Holdings Limited on 03rd March 2015 for a consideration of a sum of Rs. 651,200,000/-.
FLC Joint Venture Company (Pvt) Ltd was a joint venture between Browns Investment PLC and a Perpetual Holdings Limited. FLC Joint Venture Company (Pvt) Ltd holds 747,600,000 shares amounting to 54.65% in FLC Holdings PLC.
Subsequent to the said acquisition Browns Investments PLC will be the sole shareholder of F L C Joint Venture Company (Pvt) Ltd,