Expolanka looking for more acquisitions

Sri Lanka’s most valuable listed entity Expolanka Holdings PLC yesterday disclosed that it is looking for more acquisitions.

In a filing to the Colombo Stock Exchange, Expolanka said the company has submitted proposals in response to calls for expressions of interest for the acquisition of certain logistic companies, in international markets pursuance of its overall policy to expand its global business.

“The Board wishes to emphasise however, that such expressions of interest have not been accepted to date. Moreover, any finality to such transactions, if they are proceeded with, will be dependent on standard pre-acquisition procedures such as due diligence as well as corporate and regulatory approvals,” Expolanka said.

“The Board will ensure that the public will be kept duly informed of any progress,” it added.

Last financial year, Expolanka made three strategic acquisitions investing $ 18 million in expanding its operations in the Americas.