“Reinforcing its confidence in renewable energy, Aitken Spence PLC yesterday announced the acquisition of mini-hydro power firm Waltrim Energy Ltd. for Rs. 900 million.”
Daily FT, 9th April 2021
“Softlogic Life Insurance PLC yesterday announced the inking of landmark deals with Development Financial Institutions; Finnish Fund for Industrial Cooperation Ltd. (Finnfund) and The Norwegian Investment Fund for Developing Countries (Norfund).”
Daily FT, 30th September 2020
“Hayleys Plc and its leisure brand Amaya have ventured into the Maldives with a $ 23 million investment (around Rs. 3.4 billion) to buy a luxury resort with 51 villas. The company said it had ventured into owning and operating an overseas resort in the Maldives which would complement its city hotel and resort portfolio in Sri Lanka. The investment was made by a Hayleys subsidiary, Luxury Resort Ltd., a company incorporated in the Maldives”
An extract from the Daily FT, 20th July 2016.
“Siam City Cement Pcl (SCCC), Thailand’s second-largest cement maker, said on Monday it has signed a deal to buy a Sri Lankan cement company from Holderfin B.V., a unit of LafargeHolcim, for 13.1 billion baht ($ 374 million). SCCC said in a statement that the deal will give it the largest share of the cement market in Sri Lanka, diversify its revenue sources and provide an opportunity to expand in South Asia”.”
An extract from the Daily FT, 26th July 2016.
“Luxury Thai hotel and apartment operator Dusit Thani, a subsidiary of Dusit International, has made its first venture into the Sri Lankan market with the launch of Dusit Thani Beachfront, Balapitiya. In partnership with Indola Group Ltd., a Board of Investment approved company in Sri Lanka, Dusit International announced the soft launch for the first phase of the luxury apartment project earlier this month, which saw a limited release of 40 of the 121 apartments to be constructed.”.
An extract from the Daily FT, 27th April 2016.
“Hero Cycles Ltd India has acquired a majority stake in Sri Lanka based bike exporter BSH Ventures Ltd. With this move India’s biggest bike maker Hero wants to take advantage of the benefits associated with Sri Lanka regaining the GSP+ import duty free status. This allows for Sri Lankan made bikes to be imported duty free in the EU member states, according to a report in www.bike-eu.com”.
An extract from The Daily FT, 23rd March 2016.
“Hela Clothing, a leading apparel maker acquired Foundation Garments, another apparel producer. Seller was Jinadasa Group, a diversified family owned industrial group. Although the value of the deal was not disclosed, the announcement said the acquisition was funded with a USD 18 million bank loan.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, February 2016.
“Japans’ SG Holdings upped its stake in Expolanka PLC to 67%. Promoter family has sold a further 16% stake for USD 18 million. In 2014 SG Holdings bought 51% in the logistics firm for USD 84 million.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, February 2016.
“Malaysian PE firm takes control in Sri Lankan education business. Malaysia’s Ekuti Nasional Bhd (Ekuinas), through a subsidiary firm, bought an additional 37.6% stake in APIIT Sri Lanka for USD 6.7 million.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, March 2016.
“Norwegian firm exits Sri Lankan hydropower venture. Statkraft, a major European hydropower firm said it is selling 30% stake in its Sri Lankan venture. Accordingly 30% stake in Nividhu (Pvt) Ltd will be bought by other shareholders.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, February 2016.
“Singapore property firm sells stake in shelved project. Singapore’s Keppel Land has reportedly sold 60% interest in shelved property project back to its Sri Lankan JV partner. CT Holdings PLC has bought the stake for USD 3.8 million.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, February 2016.
“Indian firm buys Sri Lankan adhesive business. NSE listed Pidilite Industries acquired adhesive business of CIC Holdings PLC.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, December 2015.
“In debt finance deals, Richard Pieris Distributors, owner of a hyper market chain, and part of diversified industrial group, has secured a USD 15 million debt funding from IFC. IFC has backed several retail firms in the past including an equity investment in a supermarket chain earlier this year.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, December 2015.
“Dutch development finanacier FMO announced that it syndicated a USD 153 debt deal for Commercial Leasing & Finance PLC, a finance company controlled by a highly leveraged LOLC group. Investors in the syndication include OPIC, BIO, Finnfund, Proparco, Symbiotics, Blue Orchard and Oikocredit.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, December 2015.
“People’s Insurance Ltd., a wholly owned subsidiary of People’s Leasing and Finance Plc, will be the latest entity to be listed on the Colombo Stock Exchange…”
An extract from The Daily FT, 23rd November 2015.
“Local firm acquires foreign owned shipping business. IWS Holdings, a privately held local business group with interest in logistics, has acquired 40% stake in the Sri Lankan operations of American President Lines (APL) for USD 16.7 million.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, November 2015.
“NDB Bank has sold part of its investment in Resus Energy PLC. Resus Energy in turn has shed its interest in Panasian Power PLC. Another small hydro power firm.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, November 2015.
“In other private debt deals, Hatton National Bank PLC said it secured a USD 50 million SME funding line from French development financier Proparco.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, November 2015.
“NDB Investment Bank Ltd. (NDBIB) is continuing to establish itself as the leader in the investment banking space by providing corporate advisory services especially with regard to structuring M&A transactions, which include Management Buy Outs (MBOs) and raising debt via capital markets in Sri Lanka…”
An extract from The Daily FT, 8th September 2015.
“Betting on growth in the financial services sector, US banking firm JP Morgan Chase & Co. has opened an office in Sri Lanka. Firm is expected to cater to financial institutions.”
An extract from Jupiter Capital Partners Sri Lanka Private Equity Market Newsletter, April 2015.