Dhammika previously bought Lewis Brown Finance (LB Finance), owned by Ricky Mendis, brother of Dr. Nonis’ mother.
There is a court case pending over the management of the 170 year old Mackwoods company, involving its chairman, Dr. Nonis, his sister Nirmali Samaratunga and Ricky Mendis.
This dispute has been created by certain persons who had been expelled for the good of the company by Dr. Nonis’ mother, Sriyani Nonis, who committed her life to take the company to international level, and her father N.S.O. Mendis, who had bought the company from British owners.
They are being aided in the plot by certain politicians.
In their campaign to expel Dr. Nonis, Nirmali and her husband Nissanka Samaratunga have started a weekend Sinhala newspaper to attack the Mackwoods chairman.
With a limited edition, this newspaper is distributed free, and promotional posters have been pasted in Colombo and Kalutara districts.
Its editor is a journalist attached to a weekend English newspaper, who also publishes a business newspaper.
Amidst these disputes, Mackwoods Plantations has sold its majority stake of Agalawatte Plantations to LOLC.
Dr. Nonis had owned most shares of APL, whose 15.2 million shares were bought for Rs. 304 million at Rs. 20 per share, by leading businessman Ishara Nanayakkara’s Browns company, share market sources say.
This Rs. 304 million is equal to 60.8 per cent of APL’s capital.
Dhammika had wanted to buy APL too, but that newspaper editor mediated and got the company for Ishara.