Retail Holdings exits Singer, Hayleys buys

Tuesday, 16 October 2018 00:29 - - {{hitsCtrl.values.hits}}

Retail Holdings (Sri Lanka) BV yesterday exited Singer Sri Lanka Plc by selling the remaining 9.47% stake to the controlling shareholder, business leader Dhammika Perera-owned Hayleys Plc, for Rs. 1.67 billion.

The stake amounting to 35.5628 million shares was done at Rs. 47 each in a deal worth Rs. 1.67 million.

With a 9.47% stake, Retail Holdings was the sixth largest shareholder of Singer Sri Lanka. As at June 2018, Hayleys and connected parties held an 81% stake in Singer Sri Lanka Plc.