Business

Sunshine sells majority stake in Hatton Plantations

28 May 2019 - 146   - 0

Sunshine Holdings’ divestiture on Tuesday of majority control of Hatton Plantations PLC, to Lotus Renewable Energy (Pvt) Ltd, is in line with the group’s strategy of taking a significant step in refocusing its footprint in healthcare and consumer segments for strategic specialization.

Estate Management Services Pvt Ltd (EMSPL), a subsidiary of Sunshine Holdings, on Tuesday disposed 51 per cent of the shares in issue in  Hatton Plantations PLC to Lotus Renewable Energy Pvt Ltd.

In a statement, Vish Govindasamy, Group Managing Director of Sunshine Holdings, said Lotus Renewable Energy Group (LREG), a multinational renewable energy company with its operations across India, Singapore and Australia, has over two decades of experience in managing several plantation estates in Sri Lanka.

“Hence we made sure our divestiture will be to an experienced business entity, and we are confident they will continue to develop the plantations as we have done. Sunshine Group will continue to work hard in expanding their businesses while maintaining a reliable and responsible diversified business conglomerate,” he said.

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