Divestiture of Hatton Plantations PLC from Sunshine Holdings Group
Holdings PLC’s Group Managing Director, Vish Govindasamy
commenting on the Company’s announcement regarding the divestiture of Hatton Plantations PLC from Sunshine Holdings Group, offered the following statement to the media:
“Sunshine Holdings’ divestiture of the 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 our footprint in healthcare and consumer segments for strategic specialization, especially in the branded tea segment where we will continue to invest significantly in our brands — ‘Watawala Tea’, ‘Zesta’ and ‘Ran Kahata’.
Lotus Renewable Energy Group (LREG), a multinational renewable energy company with its operations across India, Singapore and Australia, have 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.”