George Steuart & Company Limited made an offer to acquire HVA Foods PLC (COSE:HVA.N0000) from HVA Group, Divasa Equity (Pvt) Ltd, Lake Drive Holdings (Private) Limited and others for approximately LKR 230 million on December 1, 2020. Under the terms of transaction, George Steuart & Company Limited will acquire all the shares at LKR 3.5 per share. HVA Group owns 61.1% stake in HVA Foods and has agreed to sell 34 million shares constituting 51.1% of the ordinary shares in issue. A detailed offer document giving other relevant information including the period during which the Offer would be kept open in terms of the Code, will be forwarded to the Board of Directors and to the shareholders of the HVA Foods within twenty eight days. George Steuart & Company Limited's board approved the offer. The tender offer was commenced on December 31, 2020 and is expected to complete on January 20, 2021. As per announcement of January 20, 2021, the expected completion date date is extended to February 1, 2021. George Steuart & Company Limited completed the acquisition of 51.1% in HVA Foods PLC (COSE:HVA.N0000) from HVA Group, Divasa Equity (Pvt) Ltd, Lake Drive Holdings (Private) Limited and others for approximately LKR 120 million on February 1, 2021. As per terms, 33.9 million shares will be acquire in the offer.