Lankem Ceylon PLC ( LCPLC) in a stock exchange filling today (04) announced that it has entered in to a related party transaction with  EB Creasy and Company PLC ( EBC) .

Under the transaction LCPLC will dispose its Consumer Goods Business, Trademarks and Machinery to related company EB Creasy and Company PLC for a consideration of Rs. 100 million.

“The company has made a strategic decision to focus its efforts on its core business units of crop protection solutions and Coatings and ancillary products. In line with this strategy, the company has disposed of its Consumer Goods Business, Trademarks and Machinery to related company EB Creasy and Company PLC for a consideration of Rs. 100 million.” LCPLC said.