Feb 29, 2016 (LBO) – CT Properties, a subsidiary of CT holdings has acquired Keppel C T Developments Private Limited (KCT) for 550 million rupees from Edmonton Private Limited, the company said in a stock exchange filing.
CT Properties held a 40 percent shareholding prior to this acquisition, the company said.
It has also obtained the approval of the Companies Registrar to change the name of KCT back to CT Properties GS Private Limited.
The Colombo based KCT was formerly known as C T Properties G S and changed its name to Keppel C T Developments in December 2012.
KCT operated as a subsidiary of Edmonton Private Limited which is a subsidiary of Keppel Land Ltd, Singapore.
CT Holdings, which was incorporated in 1928 to engage in the movie exhibition business, has over the years diversified its business interests in key growth sectors of the country.
Today its subsidiaries are in retail and fast moving consumer goods, real estate, industrial goods, plantations, financial services and the entertainment industry.