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John Keells Holdings Limited (JKH) and Misty Mountains Holdings Limited (MMH) have entered into a Sale and Purchase Agreement, whereby MMH will conduct a due diligence of Namunukula Plantations Limited (NPL) and its holding company Keells Plantation Management Services (Pvt) Limited (KPMS) with the intention of purchasing KPMS. MMH has agreed to a purchase consideration of Rs. 400 million for 100% of KPMS subject to the due diligence. KPMS has a 58.75% stake in NPL.

MMH which has a modern production facility and a brand name registered in over 35 countries, is planning to develop estates on an organic forest gardens concept.

MMH recently purchased a 60% stake in HVA Lanka, which is the promoter of the Heladive tea brand.

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