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Thursday, February 19, 2009

JKH ups stakes in Union Assurance, Ceylon Cold Stores and John Keells PLC

John Keells Holdings PLC (JKH) announced that it had increased its stakes in Union Assurance (UAL, up to 73.9%), Ceylon Cold Stores (CCS, up to 80.5%) and John Keells PLC (JKL, up to 86.9%). The holdings were enhanced as a result of JKH acquiring 13.8 million (37%) of UAL at LKR 72.00 per share, 4.3 million shares (20.2%) of CCS at LKR 115 per share and 1.6 million shares (10.9%) of JKL at LKR 60.00 per share. JKH will be making a mandatory offer for the remaining shares of Union Assurance PLC not held by JKH under Section 31 of the Company Take-Overs & Mergers Code 1995.
Source: First Guardian Equities

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