Lankem Ceylon buys majority stake in York Arcade for Rs. 340.58 m

Tuesday, 25 November 2025 03:12 - - {{hitsCtrl.values.hits}}

Lankem Ceylon PLC yesterday acquired a 49.27% stake in York Arcade Holdings PLC from its parent company, The Colombo Fort Land and Building PLC, in a transaction valued at Rs. 340.58 million.

The deal, involving 369,495 ordinary voting shares at Rs. 921.75 per share, was executed on the trading floor of the Colombo Stock Exchange.

Lankem said the acquisition supports the Group’s ongoing financial restructuring efforts.

The company noted that consolidating ownership in York Arcade is part of a broader plan to strengthen the group’s balance sheet and operational alignment.

York Arcade closed at. 892.50 yesterday, down from the previous close of Rs. 921.75. The company reported a Rs. 304.21 net asset per share as of end September 2025. At that date, Colombo Fort Land and Building PLC was the majority shareholder at 49.27%.