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Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka Vallibel One to buy Delmege

Sri Lanka Vallibel One to buy Delmege

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1Sri Lanka Vallibel One to buy Delmege Empty Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 12:43 pm

hunter

hunter
Moderator
Moderator

June 16, 2011 (LBO) - Sri Lanka's Vallibel One, a firm controlled by businessman Dhammika Perera, which is now making a public offer of shares, is buying privately held Delmege Forsythe, an official said.

Director Nimal Perera said Vallibel One will buy 51 percent of Delmege and Royal Ceramics, a subsidiary and related company will buy the balance 49 percent.
The deal, whose value has not yet been disclosed, is expected to be closed later today.

Delmege Forsythe has interests in retail distribution, travel and insurance broking.

Vallibel One, Dhammika Perera's investment holding company, has planned an IPO opening on June 21 to raise 532 million rupees by selling 21 million shares at 25 rupees a share.

It had a private placement early in 2011 also at 25 rupees and raised 4.9 billion rupees.

Among the firm's assets are listed Royal Ceramics, LB Finance and Sampath Bank.

Funds from the IPO and private placement will be used to build a 300-room hotel as the firm expands its leisure business.

The hotel, costing 5.6 billion rupees (50 million US dollars) is to be built in Negombo in Sri Lanka's western coast, north of the capital Colombo, and will be under a new group firm, Greener Waters Ltd.

The hotel is to be completed by early 2014.

Vallibel One also plans investments in the power sector.

Updated
http://www.lankabusinessonline.com/fullstory.php?nid=357051238

Interesting: Isn't it?

2Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 4:15 pm

stumpy

stumpy
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
RCL

3Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 7:15 pm

Chabbi

Chabbi
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@stumpy wrote:RCL

GUYS ......... As i knw ...

U have miss leaded ........... thr going to buy only one company in Delmage ........not entire company ...... OK .......

4Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 7:33 pm

factFINDER

factFINDER
Manager - Equity Analytics
Manager - Equity Analytics
@Chabbi wrote:
@stumpy wrote:RCL

GUYS ......... As i knw ...

U have miss leaded ........... thr going to buy only one company in Delmage ........not entire company ...... OK .......


@Chabbi

Tell us ... what is the truth... if it's only one company under DELMAGE Group the news itself a misleading " ......Delmege Forsythe has interests in retail distribution, travel and insurance broking..."


5Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 9:40 pm

Chabbi

Chabbi
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@factFINDER wrote:
@Chabbi wrote:
@stumpy wrote:RCL

GUYS ......... As i knw ...

U have miss leaded ........... thr going to buy only one company in Delmage ........not entire company ...... OK .......


@Chabbi

Tell us ... what is the truth... if it's only one company under DELMAGE Group the news itself a misleading " ......Delmege Forsythe has interests in retail distribution, travel and insurance broking..."



I thought thy were buying only one company (Lewis Brown & Company) of the Delmage group ....

But now i have go though the announcement again ....... It seems there buying entire Delmage group .... [img]Sri Lanka Vallibel One to buy Delmege Untitl12[/img]

* Apologizes for mistake Smile Apologizes

6Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 9:47 pm

xhora

xhora
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Follow up story
http://www.lankabusinessonline.com/fullstory.php?nid=370496169
planning to take Delmage Public soon...

Shareholders of Delmege Forsythe
Vallible ONE 51%
Royal Ceramic 20%
Dhammika Perera 10% (Chairman VOL)
Nimal Perera 10% (Executive Deputy Chairman VOL)
Tharana Thoradeniya 5% (Director RCL)
A M Weerasinghe 4% (Chairman RCL)

Will this positively effect the up coming IPO?

7Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 10:21 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Hmm yes it is interesting.

I heard Delmage was for sale and thought JKH was going to buy it. But Vallibel done the business.

8Sri Lanka Vallibel One to buy Delmege Empty Re: Sri Lanka Vallibel One to buy Delmege on Thu Jun 16, 2011 11:04 pm

Chabbi

Chabbi
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@UKboy wrote:

Hmm yes it is interesting.

I heard Delmage was for sale and thought JKH was going to buy it. But Vallibel done the business.

Instead of selling Valibel if thy sell thr stake @ CSE ... some retailers would be also get benefited Smile ...

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