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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Browns Investments takes full control of Ajax Engineers

Browns Investments takes full control of Ajax Engineers

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Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The diversified conglomerate, Browns Investments PLC last week acquired the balance 49 percent stake in aluminium and glass fabrication provider, Ajax Engineers (Pvt) Limited, making it a fully-owned subsidiary, the company said in a disclosure to the Colombo Stock Exchange (CSE) last week. 

The balance stake was acquired at a purchase consideration of Rs.100 million. 

Browns Investments PLC first bought into Ajax back in January 2012 through its 51 percent acquisition for a consideration of Rs.100 million. In recent times Browns Investments has been gaining full control of its group companies which it did not enjoy 100 percent ownership. 

In a similar move, Browns Investments which had a minority interest of 30 percent in LOLC Leisure, acquired the balance shareholding to become the sole shareholder of that company in March 2014. Thereafter, the company was re-named as Browns Hotels and Resorts Limited and is an aggressive player in the domestic leisure sector under which are Eden resort & Spa and Dickwella Resort & Spa and Green Paradise, Dambulla. 

Browns Investments is an investment vehicle which has business interests in manufacturing, constructions, plantation, leisure and hydro power.
 
Brown & Company PLC is the single largest shareholder in Browns Investments with a 38.42 percent stake in the company. 

This is followed by a 20 percent stake by Lanka Century Investments PLC and a 13.71 percent stake by LOLC investments Limited. 

Ajax Engineers (Pvt) Limited is a leader in installing aluminium curtain walls, doors, windows and glass facades. 

The company started operations in 1982 and is a super contractor (classified F1 by ICTAD) and is qualified to handle projects of any magnitude. The company has a workshop in Ragama equipped with German and Austrian machinery. 
Courtesy: Daily Mirror 30 June 2015

g@ii


Equity Analytic
Equity Analytic
Does anybody have an idea what would be the shareholding structure, if BIL exist from TAP's investment (20%)? Currently GREG (subsidiary of TAP) holds 20% of BIL. Is it a good counter to buy at present environment?

Dinesh Madushanka

Dinesh Madushanka
Equity Analytic
Equity Analytic
BIL/GREG/TAP/DPL and CLPL is naver give profit they shareholder.but their book value is big more than curent makt prise(without TAP).also their finacial performes not a bad.

Blackcat


Stock Analytic
Stock Analytic
@Dinesh Madushanka wrote:BIL/GREG/TAP/DPL and CLPL is naver give profit they shareholder.but their book value is big more than curent makt prise(without TAP).also their finacial performes not a bad.

DIVIDEND ANNOUNCEMENT   
07 September 2011
Date of Announcement:-07.Sep.2011 
Rate of Dividend: - Rs.0.10 per share / Interim Dividend 
Financial Year: - 2011/ 2012 
XD: - 16.Sep.2011 
Payment: - 27.Sep.2011 
Share Transfer Book Open 
They have  

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