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Sri Lanka's Lankem Ceylon ups effective control of power firm
07 Apr, 2014 10:55:13
Apr 07, 2014 (LBO) - Sri Lanka's Lankem Ceylon Plc said it is buying a 43.5 percent stake in Waverly Power (Pvt) Ltd, a hydro electricity company for 102 million rupees.
The stake was held by another Lankem unit, Agarapatana Plantations Ltd, Lankem said in a stock exchange filing. Agarapanta is not a listed company. Prior to the purchase, Lankem's effective holding in Waverly was 28 percent, according to the firm's last annual report.
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