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Singapore based Gazelle to buy Sri Lanka’s Guardian Capital Partners

ECONOMYNEXT – Singapore based Gazelle Asset Management (Pte) Ltd, is buy an 83.97 percent state in Guardian Capital Partners, an investment company owned by Sri Lanka’s Carsons Cumberbatch group.

NDB Investment Bank (NDBIB) is the financial advisor to the deal.

Under the deal reached Gazelle will pay the net asset value of the Guardian Capital at an agreed date plus 40 million rupees.

The deal has conditions including shareholders agreeing to “substantially altering the business” of the company, Ceylon Guardian Capital Partners said in a stock exchange filing.

The stock closed at 30.90 rupees. (Colombo/Sept24/2020)