Raising Stakes

Jan 31 (LBO) – Aitken Spence upped its stake in Ace Power Embilipitiya (Private) Ltd. from 50 percent to 74 percent, the Colombo Stock Exchange said Tuesday. Jan 31 (LBO) – Aitken Spence upped its stake in Ace Power Embilipitiya (Private) Ltd. from 50 percent to 74 percent, the Colombo Stock Exchange said Tuesday.

Ace Power Embilipitiya is a joint venture between Aitken Spence and Caterpillar Inc., USA. The 100 MW plant is the group’s largest power project in its portfolio.

Aitken Spence is a diversified conglomerate with core interests in travel and tourism, hotels, shipping and cargo logistics and investments in plantations, manufacturing, financial services and infrastructure.

The group has a market capitalisation of Rs. 2.4 billion.

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