DCSL buys into Pelwatte
*Major stake under Melstacorp
*Total investment tops Rs 880m
Ramani KANGARAARACHCHI
Distilleries Company of Sri Lanka (DCSL) headed by business tycoon
Harry Jayawardena has brought over a substantial stake in Pelwatte Sugar
Industries.
Harry Jayawardena |
Ariyaseela Wickremanayake |
Distilleries Company of Sri Lanka subsidiary Melstacorp (Private)
Limited purchased 31,966,000 shares of Pelwatte Sugar Industries Limited
for Rs 27.50 per share, the company said in an announcement to Colombo
Stock Exchange yesterday.
This amounts to a 47 percent stake in Pelwatte Sugar Industries
Limited. The company bought these shares from Master Divers investing Rs
880 million.
The Master Divers also sold 2.66 million shares of Pelwatte Sugar
Industries recently.
Master Divers Chairman Ariyaseela Wickramanayake told Daily News
Business that he sold this shares as he was convinced Harry Jayawardena
to be an ideal partner.
“I will be looking after the dairy sector and Jayawardena will look
after the sugar sector,” Wickramanayake said.
He said there are no immediate plans to make any changes to the
company other than the change of names in the board of management.
However, he hoped to develop the company together with new partner
Jayawardena. |
