Lotus Renewable Energy (Private) Limited made an offer to acquire remaining 49% stake in Hatton Plantations PLC (COSE:HPL-N-0000) from Estate Management Services (Private) Limited and other shareholders for approximately LKR 960 million on May 28, 2019. Lotus Renewable Energy (Private) Limited made the offer to acquire remaining shares at LKR 8.30 per share. Estate Management Services (Private) Limited has given undertaken that it would not accept the offer. Lotus Renewable Energy (Private) Limited has granted Estate Management Services (Private) Limited the right and entitlement to sell all or part of the shares it held, subject to divesting a further quantity of shares held by Estate Management Services (Private) Limited within a period of three months from the expiry of mandatory offer at a price of LKR 8.3 per share. The offer shall be unconditional. NDB Investment Bank Limited acted as financial advisor and manager to the offer. Lotus Renewable Energy (Private) Limited cancelled the acquisition of remaining 49% stake in Hatton Plantations PLC (COSE:HPL-N-0000) from Estate Management Services (Private) Limited and other shareholders on May 28, 2020.