Sri Lanka’s Hemas power asset value boosted by right advice: Capital Alliance

Dec 11 (EconomyNext) – Capital Alliance, an investment bank said its sell-side advice helped Hemas Holdings realize the "best possible" price for its power sector assets which fetched 1.68 billion rupees.

Commenting on the deal, Deshan Pushparajah, Head of Investment Banking, CAL stated, “We are proud to be associated with this landmark transaction for Hemas Holdings PLC, one of the country’s leading conglomerates.

"Our objective at CAL is to build strong partnerships with our clients based on an intimate knowledge of their needs," Deshan Pushparajah, Head of Investment Banking at Capital Alliance said in a statement.

"This sale brought with it, its own layers of complications, but the approach we used to solve many of these challenges, led to Hemas obtaining the best possible value for an asset which they had carefully built over many years."

Hemas had exited power to focus on healthcare, leisure and logistics. The assets were bought by a consortium led by the management of the power division.

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