The company said Singapore based Stamford Press (Pvt) Ltd has shown an interest to acquire Lake House Bookshop
quote s assets.
rnldblquote Stamford Press has submitted an offer and the Board of Directors are finalising the negotiations,
dblquote Lake House said in a statement to the Colombo Stock Exchange today.
rnLake House Investments has been undergoing serious of financial difficulties over the years.
rnAs part of its major overhaul, the company is looking at divesting some of its failed businesses.
quote s principle activities includes selling books, publishing, exporting and importing publishing material and photography.
rnrnFor the financial year ending March 31, 2000, the company made a loss of Rs. 9.44 mn from a profit before tax of Rs. 3.1 mn in the corresponding year.
rnrnTurnover during the period under review stood at Rs. 102.8 mn as against Rs. 116.9 mn in 2000.rn