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Sri Lanka Royal Ceramic sells commodity broker

Mar 07, 2013 (LBO) - Sri Lanka's Royal Ceramics Plc, a tile and sanitary ware group said it sold 12.
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75 percent of its 51 percent stake in Asia Siyake Commodities Plc, a tea broker, to Lanka Commodity Brokers Ltd.

The first tranche would be sold after March 04 and the second tranche after June 11.

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The firm had said earlier that it was selling the 51 percent stake for 371 million rupees or 2.80 rupees per share in two stages under 'lock-in' rules specified by the regulator.

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