Ceylon Tea Brokers Scraps Rs. 635.3 Mn Divestment of Logicare 📈

• Transaction Status: Ceylon Tea Brokers PLC has officially terminated the agreement to sell its 100% stake in Logicare Ltd. to DP Logistics Ltd. (part of the David Pieris Group). The deal, originally signed in October 2025, collapsed as the parties failed to meet the required Conditions Precedent. • Financial Valuation: The proposed exit was valued at Rs. 635.3 million, based on an overall enterprise value of Rs. 1.3 billion. • Strategic Context: Logicare was established to provide integrated logistics and warehousing services as a diversification effort. The sale was intended to allow the firm to refocus on its core tea broking operations and primary business services. • Current Outlook: Both parties have mutually agreed to terminate the Share Sale and Purchase Agreement. No specific details were provided regarding the unmet conditions or potential new buyers for the logistics subsidiary.