Hayleys Group buys Sri Lanka Shipping for Rs. 4.9 billion

Tuesday, 29 August 2017 00:40 - - {{hitsCtrl.values.hits}}

Move in quest to become largest marine and shipping company

Hayleys Advantis, the transportation and logistics arm of Hayleys Plc, has acquired 94.8% stake in the Sri Lanka Shipping Company Ltd. for Rs. 4.9 billion.

The company, a subsidiary of conglomerate Hayleys Plc, in a disclosure to the Colombo Stock Exchange said the acquisition is in line with the group’s strategy on expanding its maritime operations and paving the way for the establishment of the largest marine and shipping company in Sri Lanka.

Sri Lanka Shipping has enjoyed an excellent and respected position in the local shipping industry and is headquartered in its own building named after its founder Chairman Robert Senanayake.

The group of the company offers the local and international shipping community the full range of maritime services such as a liner and tramp ship agency, joint venture investment in ship agency companies, stevedoring, Customs house agents, clearing and forwarding, heavy lift haulage, towage and salvage, bagging of bulk fertiliser, warehousing and warehouse management and tea blending and other related services to the export of tea.

Its Board of Directors were Capt. Lester Paul Weinman (Chairman), Mrs. Sonia Weinman, Mohamed Reza (Managing Director) and Feroza Delpechitrea.