Renuka Holdings acquires Shaw Wallace
Pays Rs 368 m for transaction:
Renuka Holdings PLC has acquired 61.78 percent of Shaw Wallace
Marketing Ltd for Rs 368 million yesterday.
Making an announcement to the CSE, Renuka Holdings said the
transaction was concluded yesterday whereby Shaw Wallace Marketing Ltd
becomes a subsidiary of Renuka Holdings. Shaw Wallace Marketing Ltd
acquired Pioneer Warehousing Ltd a Board of Investment company who are
the owners of a warehouse complex in Peliyagoda and Colombo 8 which will
house the future corporate offices of Shaw Wallace.
For these purchases group companies of Renuka Holdings PLC have
advanced Rs 600 million. Shaw Wallace Marketing Ltd is engaged in the
distribution of Consumer goods and Automotive products. The company also
acts as importers and agents for many products.
The subsidiaries of Shaw Wallace Marketing Ltd are Healthcare
Products (Pvt) Ltd, engaged in the manufacturing of food products. Shaw
Wallace Services Ltd, engaged in the provision of management services
and Shaw Lanka Tours (Pvt) Ltd who are travel agents.
This purchase does not include Shaw Wallace and Hedges PLC run as an
investment company.
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