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Rs. 5 mn. per perch value for acquired property - Land synergies between Delmege & Hayleys

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milanka

milanka
Vice President - Equity Analytics
Vice President - Equity Analytics

The Rs. 3.1 billion price tag Mr. Dhammika Perera and his associates will pick-up later this week for the Delmege Forsyth Group is largely related to the value of two and a half acres of prime Colombo land owned by Delmege which had been computed at Rs. 5 million a perch, Mr. Nimal Perera, Dhammika’s investment advisor and close associate said yesterday.

Royal Ceramics PLC, another Dhammika Perera controlled company, who is one of the buyers of Delmege, has already paid Rs. 500 million in consideration of sale and purchase agreement signed on Thursday according to a Stock Exchange filing by RCL.

Vallibe One’s liability is nearly Rs. 1.6 billion to be paid Wednesday when the deal will be finalized.

Nimal Perera said that although Lewis Brown and Co. Ltd., the holding company of Delmege will be the seller, the buyer intends to dispense with the little known Lewis Brown identity and cash in on what he called the invaluable Delmege brand.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=28094

http://forum.srilankaequity.com/u188

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