Brandix, MAS change ownership of joint ventures
Brandix Lanka and MAS Holdings, South Asia’s leading apparel solution
providers have concluded transactions concerning ownership of their
joint venture concerns - Linea Clothing (Pvt) Ltd. and Textured Jersey
Lanka (Pvt) Ltd.
Following an offer by Brandix Lanka, to purchase the latter’s
shareholding in Linea Clothing, MAS Holdings made a counter offer to
purchase the shares held by Brandix Lanka in Linea Clothing. MAS
Holdings’ investment in Textured Jersey Lanka, held through Linea
Clothing was transferred to Brandix Lanka.
CEO/Managing Director, Brandix Lanka Ashroff Omar and Chairman MAS
Holdings Mahesh Amalean said these changes in ownership were arrived at
mutually in the best interests of the companies’ associates and
customers.
Following the transaction, Linea Clothing (Pvt) Ltd., will be a fully
owned subsidiary of MAS Holdings (Pvt) Ltd. and Textured Jersey Lanka (Pvt)
Ltd., will be jointly owned by Pacific Textiles Holdings Limited (Hong
Kong) and Brandix Lanka Ltd.
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