Spanish textiles company Dogi International Fabrics has announced the sale of its stake in Sri Lankan unit DogiEFA to a local partner for US$800,000.

The company told stock market regulator CNMV that a commercial court in Barcelona had authorised the deal.

DogiEFA is a textiles joint venture between Dogi, Elastic Fabrics of America (EFA) and MAS Holdings, which was set up four years ago.