- Last Update 2025-06-11 19:31:00
Yaseen sheds 30% in United Motors to RIL
Commercial space owners, RIL Property PLC bought 30 per cent in United Motors PLC on Wednesday morning with officials saying that the latter's potential for property development is large.
The sale of some 30.2 million shares was by United Motors PLC's largest shareholder M.A. Yaseen. These shares were traded in two large parcels on the Colombo Stock Exchange (CSE). Both parcels traded at Rs. 78. The first parcel was 20,271,000 shares and the second was 10 million shares. Mr. Yaseen had 61.20 per cent stake in United Motors PLC. The Yaseen family owns 74 per cent in RIL Property.
A RIL Property official told the Business Times that the company has been deliberating on this transaction for a while and that they saw the potential for property development at the 4.5 acre plot of United Motors adjacent to RIL Property in Colombo 2 as lucrative.
“We will be announcing the mandatory offer soon,” he said. (DE)
-
Still No Comments Posted.
- June 2, 2025 - 474 - 0
National Tax week launched
The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.
- June 2, 2025 - 379 - 0
SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.
- June 3, 2025 - 224 - 0
Krishanthi Kumaraswami convicts FR dismissed by SC
The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.
- June 6, 2025 - 218 - 0
SriLankan flight grounded in Indonesia
A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.
- June 5, 2025 - 182 - 0
Alert Moratuwa resident averts railway derailment
The actions of a resident in Egoda Uyana, Moratuwa helped to avoid a possible railway accident involving an office train on the southern coastal line today, the Railway Department said.
Related Articles
Mass protest in Mannar against environmentally harmful projects
- 11/06/2025 - 7 - 0
MOU between SL-Australia police to curb transnational organised crime
- 11/06/2025 - 17 - 0
Anura Kumara to Meet German President Today
- 11/06/2025 - 23 - 0
Leave Comments