Textured Jersey Lanka PLC has acquired a total of 35,630,000 shares of Ocean Mauritius Limited from the Brandix Group, Jacob BAC Ltd, Compagnie Mauricenne de Textile Ltee and Pioneer Elastic Holdings Ltd for a total consideration of USD 15 million.

Fifteen per cent of this to be paid in cash and the balance 50 per cent through issues of shares in Textured Jersey Lanka.

Ocean Mauritius Limited is the parent company of Ocean India (Private) Limited.