Brother some facts seem to be wrong in your post. Acaps total holding in AAIC was 53.16%(http://www.cse.lk/cmt/upload_cse_announcements/5111310443568_.pdf).
I think,Acap didnt want sell AAIC in hurry with losses,They may consider lots of facts before coming to a conclusion. If there was a competition in acquiring aaic, the rich would have bought aaic paying even 150 per share.
Rich holds 15% stake in aaic not a 25% in acap.(http://www.cse.lk/cmt/upload_report_file/363_1304509978.pdf)
AAIC was trading around 70 in the last part of the 2010, and suddenly appreaciated above 100 and positioned around 115-120, very recently it started to move once again and hit around 165 as i can remember.
aaic is a good company with systematically built up reputation and with a reasonable mkt share.
Its two business models of two companies, whn one wants to enter in to insurance industry other want exit so both are benefited in the end.
Acap is mostly engaged in asset management and investment activities so they got a huge capital gain from this investment of aaic after long years.they will invest in other promising companies in future and will continue their business in that way.
SHL is a holding company with diversified sectors like ,
technology, health care, tourism, plantation, etc., so the new addition of aaic will give them a good chance to be in forefront of the insurance industry as well.
But immediate beneficiary is the ACAP as they have earned a big capital gain exceeding 2b. this will be included in their next financial report making two figure EPS.
Acap share will appreciate in coming days. as aaic already trading above that purchase price, we can tell exactly its behavior, SHL share will not be effected in short term as it showed in first day of trading