We are pleased to announce that a consortium of investors, organized and managed by Tempest PE Partners, a joint venture between Capital Alliance and Insite Holdings, and led by Associated Electricals Corporation Limited, has successfully supported a management buyout of Sri Lanka Technological Campus from Sri Lanka Telecom PLC for Rs. 410 million.
The buyout was led by the Founder President/CEO of SLTC, Mr. Ranjith Rubasinghe, and his senior management team. The transaction involved an approximate Rs.1.16 billion in a sale and leaseback arrangement with Sri Lanka Telecom, as well as a fresh equity injection of Rs. 290 million by the consortium.