Financial Times

Colombo Land buys Uniwalkers
Colombo Land and Development Company Ltd., owners of Liberty Plaza, is in the process of acquiring Uniwalkers, agents for the National brand of consumer electronics, company officials and brokers said.

"This is part of our diversification strategy," a company official said. "The potential for growth in the property development market is limited, so the company decided to diversify."

The cost of the acquisition was not disclosed. CLDC was still in the process of doing the transactions for the deal, which was described as one with a "very long term aim" and no announcement has yet been made to the Colombo Stock Exchange.

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