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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Lion withdraws from India

Lion withdraws from India

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1Lion withdraws from India Empty Lion withdraws from India Sat May 28, 2011 9:27 am

milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

Lion Brewery (Ceylon) Plc announced yesterday its decision to pull out from its Indian investment and joint venture with Carlsberg South Asia Pte Ltd.
The exit from the joint venture South Asian Breweries Pte Ltd. would be via the divestiture of Lion shareholding to Carlsberg at a consideration equivalent to the book value of the investment as at today (same as the book value as at 1 March 2011).

The company is currently awaiting the necessary regulatory approvals in order to conclude the transaction.

More :- http://www.ft.lk/2011/05/28/lion-withdraws-from-india/



http://forum.srilankaequity.com/u188

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