Ambeon Capital transfers ownership stake in Heron Agro Products to Colombo City Holdings

Ambeon Capital PLC has transferred the ownership stake in Heron Agro Products (private) Limited to Colombo City Holdings PLC, a subsidiary of Ambeon Holdings PLC.

In a stock filing, Ambeon Capital disclosed that the company has transferred the entirety of the shares held by the company in Heron Agro Products (private) Limited to Colombo City Holdings PLC for a total consideration of Rs. 1 on together with the liabilities of Heron Agro Products (Private) Limited totaling to Rs. 87.36 million.

Heron Agro is a property holding company and holds a leased property of teak plantation in Agunakolapelessa. According to the latest annual report of Ambeon Capital, the lease period of the property has expired on 17th January 2023. However, the company noted that a renewal process was currently underway, and the Board remained confident in securing an extension of the lease agreement for an additional 30-year period. 

The expansive agricultural land spans 73 acres, three roods, and eight perches (29.880 hectares) and was notable for its teak and lunumidella plantations.

Ambeon Holdings PLC is a subsidiary of Ambeon Capital PLC. (NF)