Six In One Blow

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

Six cluster bus companies made it thorough the stock exchange as scheduled on Thursday, all picked up by the British led consortium of IBIS Transport Consultants, with technical collaboration from Transbus International.
The partial sale fetched Rs. 1.41 billion to the governments for the 39 per cent stake and management control of the six bus companies. rn

rnThe six bus companies include the Mahanuwara Bus Company, Colombo Metropolitan Bus Company, Kalutara Bus Company, Gampaha Bus Company, Sabaragamuwa Bus Company and the Rajarata Bus Company. rn

rnDriving in the local expertise, Latec Engineering and Management Services Private Limited will join the consortium.rn

rnThe deal routed through the stock exchange, will be settled off the floor, exchange officials say. rn

rnThe plight of the remaining bus companies was not clear at the time of this report as PERC officials were unavailable for comment.

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