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Hayleys Buys Textile Firm from Ambeon for Rs. 4 b

Hayleys Fabric Plc yesterday acquired the control of South Asia Textiles Ltd. (SAT) for Rs. 4 billion as part of expanding its business. Hayleys bought 98.84% stake of SAT comprising 97.68% from Ambeon Holdings Plc and 1.16% from a minority shareholder. “This acquisition supports Hayleys Fabric Plc’s strategic plan to expand capacity for higher value-added…