ECONOMYNEXT - Diversified Hayleys group said its logistics division had bought Sri Lanka Shipping Company Limited, a privately held firm, for 4.9 billion rupees.
"The acquisition is in line with the Group's strategy on expanding its maritime operations and paving the way for the establishment of the largest marine and shipping company in Sri Lanka," Hayleys said in a statement.
The group said is Hayleys Advantis Limited had brought 94.81 percent of Sri Lanka Shipping Company Limited on August 23, 2017.
Sri Lanka Shipping Company offers shipping agency services, stevedoring, clearing and forwarding, has fertilizer bagging plant at Colombo port, wareshousing and tea blending for export. (Colombo/Aug29/2017)