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The John Keells Holdings Group has disposed of its shareholdings in John Keells Institute of Information Technology (Pvt) Ltd. ('JKIIT') and Gorden Frazer and Company Ltd. ('GFC').

The total consideration for both transactions was Rs. 24.5 million.

JKIIT is an IT training institute and was part of the Information Technology sector of the Group.

Gorden Frazer is involved in the export of bulk teas and the export and distribution of value added teas.

The Group reviews its portfolio of investments on a regular basis.

The two entities that were disposed were no longer of strategic value to their respective sectors and were not likely to meet the return hurdles of the Group.

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