Hayleys Fabric acquires 98.84% stake in South Asia Textiles

Hayleys Fabric Plc acquired a 98.84% equity stake in South Asia Textiles Limited for a consideration of Rs 3,953,361,887 (approximately $53 million). The acquisition supports Hayleys' strategic plan to expand capacity for higher value-added fabrics.

“The acquisition supports Hayleys Fabric Plc’s strategic plan to expand capacity for higher value-added fabrics for exports by aligning with world class tier-1 brands under its portfolio of customers.”kohantextilejournal.com

• 1 source
• kohantextilejournal.comSri Lanka's Hayleys Fabric buys 98.84% stake in South Asia TextilesBehnam GhasemiApr 28, 2021

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