MTD Walkers Plc is foraying into property development business with an acquisition worth Rs. 2.1 billion.
The company said its Board has approved the purchase of 100% equity in Wincon Development Ceylon Ltd. for Rs. 2.174 billion at Rs. 4.01 per share.
Wincon Development is venture by a Malaysian investor and at present is engaged in a public housing scheme in Galle.
MTD Walkers specialises in construction and engineering and the acquisition signals it foray into real estate and property development given its belief of future upside.
www.ft.lk
The company said its Board has approved the purchase of 100% equity in Wincon Development Ceylon Ltd. for Rs. 2.174 billion at Rs. 4.01 per share.
Wincon Development is venture by a Malaysian investor and at present is engaged in a public housing scheme in Galle.
MTD Walkers specialises in construction and engineering and the acquisition signals it foray into real estate and property development given its belief of future upside.
www.ft.lk
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