When contacted, Deputy Chairman of Janashakthi Insurance Plc, Chandra Schaffter acknowledged that Schaffter family has held discussions with UML officials with a view to buying the full stake.
“But it was not under Janashakthi Insurance but Ramesh was the one who was having the discussions,” said Chandra Schaffter adding that his son Ramesh Schaffter was planning to buy out OFSC under another investment arm of the family. However, our efforts to reach Ramesh Schaffter were not fruitful since he was out of the country at the time of this paper going to press.
Meanwhile, UML Chairman Ranjit Fernando also confirmed that OFSC has been sold but denied disclosing figures relating to the consideration of the sale.
According to market sources, UML is believed to have divested its stake to an amount between Rs.200 million to Rs.300 million.
By Jithendra Antonio
http://www.thebottomline.lk/2011/02/20/page6.html
Last edited by Quibit on Sun Feb 20, 2011 10:59 am; edited 3 times in total (Reason for editing : format condensed)