Bairaha Farms in a Colombo Stock disclosure announced the disposal of 100% share holdings in Hill Country Farms Limited (wholly owned subsidiary) to Siyane Farms for the purchase consideration of Rs.423,867,691.
Siyane Farms Limited is the major day old chick producer of the group. By acquiring Hill Country Farms Limited which is also a day old chick producer, will streamline and consolidate the operations of similar line of business.
The Related Party Transactions Review Committee of the Bairaha Farms is of the view that the transaction is on normal commercial terms, and not prejudicial to the interests of Bairaha Farms (BFL) and its minority shareholders. (IH)
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