ODEL PLC announced that the transaction took place on the 31st of July.
Accordingly, ODEL founder Otara Gunawardena has sold 40,416,550 shares she held, while her two brothers Ruchi and Ajith have disposed 500,000 and 19,708,450 shares respectively held by them.
Singapore based Parkson has paid a sum of Rs. 1.424 billion to acquire the said amount of shares, with each priced at Rs. 23.50.
Otara Gunawardena still holds a 27.88% stake of ODEL and continues to be its CEO, announced the company in an earlier stock market filing.