Harry J backs MHL in the race to acquire Lanka Bell

Milford Holdings Limited one of the largest companies in the Stassens Group signed a Share Purchase Agreement with the consortium of shareholders to purchase a significant holding of Lanka Bell (Pvt) Limited, one of the leading wireless telephone operators in the country. Lanka Bell was recently granted a CDMA licence and is one of the most proactive telecommunication providers in the country.

Milford Holdings is the largest shareholder of Sri Lanka Insurance and has an issued capital of Rs. 5.7 Billion. With this purchase Stassen Group will add telecommunications to its impressive list of sectors such as tea and produce, insurance, banking, travel, hotels, power generation, logistics, manufacturing, plantations, and food and beverage.

Donald China and Chan Boon Hui signed the SPA on behalf of the shareholders and D.H.S. Jayawardene and Damian Fernando singed the agreement on behalf of Milford Holdings, Suren Gunawardene MD of Lanka Bell Witnessed the event.