Ambeon Capital’s subsidiary, Ambeon Essentials (Private) Limited, has entered into a share sale and purchase agreement to acquire 981,118 ordinary voting shares of Harischandra Mills, held by a consortium of investors. This transaction represents approximately 51.11% of the total issued ordinary voting shares of Harischandra, a publicly listed consumer goods company, according to a stock exchange filing by Ambeon.
Ambeon Essentials (Private) Limited plans to make a voluntary offer to acquire the ordinary voting shares of Harischandra Mills PLC from all shareholders, in compliance with the Takeovers and Mergers Code and other applicable regulations. The acquisition is contingent upon obtaining the necessary regulatory approvals from relevant authorities.
Ambeon stated that the offer price and terms will be announced once these approvals are secured.
In October of the previous year, the diversified Hayleys group acquired a stake in Harischandra Mills from Senthilverl Holdings. Following this, Hayleys made a mandatory offer to purchase 1,140,654 ordinary voting shares, which constituted 59.42% of the issued shares of Harischandra.
As of the latest trading session, Harischandra’s stock was valued at 5,585.75 rupees. (Colombo/Jan26/2025)
