ECONOMYNEXT – Tempest Two (Pvt) Ltd, a special purpose investment vehicle has acquired a SLT Campus (Pvt) Ltd, a recognized tertiary education institute from Sri Lanka Telecom, a stock exchange filing and officials familiar with the transaction said.
Sri Lanka Telecom Plc, a publicly traded company said in stock exchange filing that it is selling SLT Campus (Pvt) Ltd, for 410 million rupees to Tempest Two (Pvt) Ltd.
Tempest is an SPV operated by Tempest PE Partners (Pvt) Ltd, a joint venture between Capital Alliance and Insite Holdings had earlier been involved in the acquisition Cable Solutions, one of several hi-tech exports firms in Flinth Industrial Park in Sri Lanka.
The Cable Solutions acquisition was done with ACL Cables.
Cable Solution however is a fully export oriented, non-exploitative firm. (Colombo/De14/2021)