FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post
Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer


EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Biggest ever Acquisition 12.5 Billion LKR Singer in Heylese

Biggest ever Acquisition 12.5 Billion LKR Singer in Heylese

Go down  Message [Page 1 of 1]

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
The singer is none other than Dhammika Perera .

Retail Holdings (Sri Lanka) B.V.

Naritaweg 165 Telestone 8
1043BW AMSTERDAM

Retail Holdings NV (the "Company"") is a Curacao (formerly the Netherlands Antilles) public company that is the successor company to the Singer Company N.V. and its predecessor companies.

RETAIL HOLDINGS N.V. ANNOUNCES SALE IN SINGER SRI LANKA
September 13, 2017, Willemstad, Curaçao

Retail Holdings N.V. announced today that the Company has entered into an agreement to sell,
through the Colombo Stock Exchange, Sri Lanka, approximately 61.7% of the total issued
shares in the Company’s subsidiary, Singer (Sri Lanka) PLC (“SSL” or “Singer Sri Lanka”)
to Hayleys PLC, a publicly listed Sri Lanka conglomerate. The transaction is anticipated to
close before month-end.
The Company will continue to own an approximate 9.5% stake in SSL. The approximately
remaining 28.8% of the shares of Singer Sri Lanka are publicly owned. Singer Sri Lanka had
revenue of approximately $331.7 million and attributable profits of approximately $9.3
million in the twelve months ended June 30, 2017.
The net profit after taxes and expenses from the transaction is projected to be approximately
$38.5 million. The net cash consideration will be approximately $69.0 million.

Commenting on the transaction, Stephen H. Goodman, the Company’s Chairman, President
and CEO, said, “The sale of Singer Sri Lanka is a significant milestone in the execution of
Retail Holdings’ stated short-to-medium term strategy.

Following the sale, Singer SL will have a royalty bearing license from SVP Worldwide, the owner
of the Singer trademark, to use “Singer” in the company name and the “Singer” brand on its
stores, products and services. Stephen H. Goodman, Chairman of Retail Holdings and of
Singer Asia, Gavin Walker, President of Singer Asia, and Asoka Pieris, Managing Director of
Singer Sri Lanka, will continue as directors of SSL, and Singer Asia will continue to provide
certain technical assistance, as required.

------

With this transaction 69 million US$ (10.5 billion lkr) will be indicated in foreign sales.

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
wonder where the cash came from ! authorities need to look into the source of funds !

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum