Tuesday, 12 August 2014 00:42
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Asiri Central signs MoU to sell Colombo 7 land and premises for Rs. 2.6 b
Asiri Central Hospitals Plc yesterday announced it has entered into an agreement to sell and transfer the 293 perch land and premises at Horton Place, Colombo 7 for Rs. 2.6 billion.
As per the deal the price works out to Rs. 9 million per perch.
The transaction is subject to Asiri Central obtaining shareholder approval at a General Meeting since this amount to a major transaction as per Section 185 of the Companies Act of 2007.
Asiri said in terms of the agreement, the sale will be concluded only upon the buyer completing a due diligence within 90 days of the execution of the agreement.
Real estate sources speculated the buyer was an individual and the deal being managed by a firm of chartered accountants as well as a law firm.
