MBSL chairman owns stake in Ceylinco firm

Financial Times

Merchant Bank of Sri Lanka (MBSL) Chairman Janaka Ratnayake and MBSL have acquired the majority holdings of Ceylinco Investment Company Ltd (CICL), a Ceylinco Group company, the Colombo Stock Exchange was informed on Friday.

CICL has a 37.13 % stake in The Finance Company (TFC) which is managed by MBSL. The statement from TFC said MBSL and Mr Ratnayake equally own 46.35 % in the CICL under the new shareholdings with the balance (7.3%) held by other unnamed parties. Stockmarket sources said CICL is a major stakeholder in Hotel Ceysands at Bentota.

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