Singapore’s G&G Group, Sri Lanka’s EMS jointly acquire tea plantation firm for $5.7m

Singapore’s G&G Group, Sri Lanka’s EMS jointly acquire tea plantation firm for $5.7m

Photo by rawpixel.com on Unsplash

Singapore-based renewable energy company G&G Group of Companies Pte Ltd (G&G) and Sri Lanka’s Estate Management Services (EMS), a subsidiary of Sunshine Holdings PLC, have together acquired a 51 per cent stake in Sri Lankan tea plantation company Hatton Plantation PLC (HPL) for about LKR1.0 billion ($5.67 million).

For G&G, the acquisition has been routed through its subsidiaries Lotus Hydro Power PLC and Zyrex Power Company Ltd (LRE).

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