Vallibel One acquires controlling stake of Delmege Forsyth

Vallibel One Ltd., acquired 51 percent stake of Lewis Brown and Company, the holding company of Delmege Forsyth, a stock exchange filling said.

Royal Ceramics Lanka PLC , a subsidiary of Vallibel One purchased 19 percent stake of the acquired company.

Chairman Vallibel One Dhammika Perera, Deputy Chairman Nimal Perera, Chairman Royal Ceramics A.M. Weerasinghe and Executive Director Royal Ceramics T.G. Thoradeniya had agreed to purchase the remaining 30 percent shares of Lewis Brown and Company.

Nimal Perera said that Delmege as a subsidiary of Vallibel One will be transformed into a leading entity with growth in all diversified sectors.

Delmege Forsyth, established in the mid 19th century is a leading business entity in the country. The company is diversified into around 15 sectors.

- LF