Business Times

Perera duo set to expand Hay leys stake to 51%

Businessman Dhammika Perera will ‘buy’ from the market if the mandatory offer for Hayleys PLC doesn’t fetch him the desired, controlling 51% interest, according to analysts.

“He is expecting to control 51% from the mandatory offer to be announced soon. It’s not likely that he’ll get it – in which case Dhammika will resort to collecting from the stock market,” an analyst said.
He said that during the past three weeks Mr. Perera has been collecting 200,000 and 250,000 blocks in Hayleys which summed up to the 30% and acting in concert with Nimal Perera, his right hand-man and fund manager, they are believed to own more than 30% in the conglomerate.

Analysts said that Hayleys is now the second conglomerate, (Aitken Spence being the first controlled by Harry Jayawardena-related parties) which has a clear single, large shareholder.

Mr Perera’s foray into Hayleys began in mid June 2008 when he bought a strategic 7% stake in Hayleys held by Carson Cumberbatch Group. By October last year both Pereras’ owned 29% together. Dhammika-led Royal Ceramics PLC purchased 155,000 Hayleys shares on Thursday each from Jetwing Group-owned Negombo Hotels, which triggered the mandatory code.

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