Hemas Holdings will purchase a consumer goods business in Kenya.

Hemas Holdings, a prominent company in Sri Lanka, has announced that it has signed a conditional share sale and purchase agreement to acquire a significant equity stake in a Kenyan consumer products company. The transaction awaits necessary regulatory approvals, notably from the Competition Authority of Kenya and the Central Bank of Sri Lanka, and is projected to be finalized within six months. The board of Hemas Holdings approved the acquisition on September 25, and the company intends to keep stakeholders informed of any further developments.