NAMAL bidding on

Bidding for the National Asset Management Limited (NAMAL) owned by Distilleries Company of Sri Lanka (DCSL) has opened.

DCSL PLC subsidiary, Milford Holdings Private Limited has nominated a consortium comprising of Union Bank Limited, BP De Silva Holdings and others as the preferred bidder for the sale of 6999997 shares of National Asset Management Limited at Rs 61 a share.

The finalization of the sale is subject to entering in to share sales and purchase agreement and the consortium completing the purchase within the time specified after obtaining regular approval, a CSE statement said.

As the transaction is still at the preferred bidder stage, the Directors of Milford Holdings considers the other bids of other bidders to the parcel, are still valid, and they may go to the next bidder if the preferred bidders fails to completed the sale.