September 13 (Citizen.lk News) - Business tycoon Dhammika Perera has completed the acquisition of a 50 percent stake in Laugfs Holdings Ltd through his private vehicle Vallibel Three (Pvt.) Ltd, filings to the Colombo Stock Exchange showed yesterday.
Laugfs co-founder and Chairman W.K.H. Wegapitiya transferred 10.4 percent of his stake in the diversified group to Vallibel Three, on September 11, reducing his holding to 50 percent.
Perera first entered the group earlier this month by purchasing a 39.6 percent stake from co-founder U.K. Thilak De Silva, who subsequently resigned from the boards of Laugfs Gas PLC and Laugfs Power PLC.
The transaction finalises a 50:50 partnership between Perera and Wegapitiya in the parent company of the Laugfs group, which spans energy, retail, logistics and manufacturing and has operations in Bangladesh, the UAE, United States and Netherlands.
The latest deal adds to Perera’s recent acquisitions, including East-West Properties PLC and DHT Cement Ltd, expanding his footprint across real estate and industrial sectors.
