Sri Lanka’s Hayleys acquires 75-pct stake in Fentons for Rs963mn


Mar 15, 2016 (LBO) – Sri Lanka’s Hayleys has acquired 75 percent of the equity stake of Fentons Limited for 963 million rupees, the Company said in a stock exchange filing.

Fentons, established in 1921 is a leading electrical and mechanical engineering solutions provider for Building Systems and ICT Infrastructure.

“The management of Hayleys believes that there is a strong strategic fit between the two organizations,” the company said.

‘The acquisition will positively contribute to the Hayleys Group’s turnover and profitability considering the growing demand in the country’s infrastructure and support services sector.”