Sri Lanka, July 15 -- BPPL Holdings PLC's wholly owned subsidiary, Beira Brush (Private) Limited, has entered into a Business Transfer Agreement (BTA) with Ravi Industries Limited to acquire the company's customer base together with the rights to use the 'Ravi' trademark and related intellectual property.
The transaction involves the transfer of Ravi Industries' customer relationships and associated brand rights to Beira Brush under the terms of the agreement.
BPPL said the consideration will be paid over a five-year period through annual payments linked to revenue generated from the transferred customer base and trademarks.
The minimum total consideration envisaged over the period is Rs. 300 million.
The board approved the transacti...