Sri Lanka private equity firm buys 10-pct of Delmege
July 12, 2011 (LBO) - Sri Lanka's LR Global, a private equity firm had bought a 10 percent stake in Delmege Forsythe group, a unit of listed Vallibel One Ltd from a director, for 387 million rupees, an official said.
On June 16, Vallibel One bought a 51 percent of Lewis Brown & Company, the holding company of Delmege Forsythe group.
Royal Ceramics, a Vallibel One subsidiary bought 20 percent while Vallibel chairman Dhammika Perera, and deputy executive chaimam Nimal Perera, bought 10 percent each, in a deal which valued the group at 3.1 billion rupees.
Nimal Perera said he had sold now out to LR Global.
Another five percent of Delmege was bought by Tharana Thoradeniya, a director of Royal Ceramics and the balance four percent by A M Weerasinghe, Royal Ceramics' chairman.
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