US-based Asia Energy seeks 21.4% stake in Lankan power firm

Financial Times

Asia Energy Management Systems Inc., a US-based firm, offered to buy 160 million shares or a 21.4% stake in Sri Lanka’s Vallibel Power Erathna, Acuity Partners, the manager to the offer announced on Tuesday to the Colombo Stock Exchange.

The company said that the US company has got an undertaking from Dhammika Perera, (majority shareholder) and Vallibel Power Ltd, to sell their stakes. Perera has 24.7% in Vallibel Power Erathna while the Vallibel Power Ltd has 51% in this firm.

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