Sat, 04 September 2010  07:54:23
Take-over
22 Jan, 2010 14:44:00
Sri Lanka CW Mackie bought by Lankem group
Jan 22, 2010 (LBO) - Sri Lanka's Lankem group has gained control C W Mackie a listed food distribution and trading firm with a Danish and local shareholder exiting in a 700 million rupee deal, brokers said.
Aarhus United A/S held a 30.09 stake in CW Mackie or 10.83 million shares as of September 2009, and Ceylon Trading Company, a locally incorporated firm held further 26.47 percent stake through 9.56 million shares.

At a sale price of 35 rupees a share, the two stakes totaling 56.4 percent of the firm is valued at 712 million rupees.

Lankem (Ceylon) Limited said it had bought 36.71 percent of CW Mackie (13.2 million shares) and Kotagala Plantations, a group firm bought 19.85 percent (19.85 million shares).

The CW Mackie group distributes Sunquick branded concentrated juices which is believed to be one of the most popular non-carbonated beverages in Sri Lanka and snacks such as Jumbo branded peanuts.

The firm is also an exporter of rubber and importer of sugar.

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