Sri Lanka’s Equity One Plc sells property

Feb 27, 2014 (LBO) – Equity One Plc, a unit of Sri Lanka’s Carson Cumberbatch group said it sold a six acre land in a suburb south of Colombo for 571.2 million rupees. The land in Mount Lavinia had been sold on February 24, the firm said in a stock exchange filing.

The funds will be used to part settle 751.7 million rupees borrowed from its parent to pay bank loans and interest incurred in buying the land.

Kelsey Development Ltd, another listed company said its fully owned nit Kelsey Homes Limited had bought the land.