Lee Hedges to acquire full stake in Lanka Realty Developments for Rs. 3.16 b

Tuesday, 24 March 2026 03:45 - - {{hitsCtrl.values.hits}}

Lee Hedges PLC has announced plans to acquire the entire issued share capital of Lanka Realty Developments Ltd. (LRD) through a two-part transaction valued at over Rs. 3.16 billion.

Its Board of Directors, at a meeting held on 19 March 2026, resolved to purchase 57,204,262 ordinary shares held by Lanka Realty Investments PLC (LRI), representing 51% of LRD, for a total consideration of Rs. 1,610,334,180.

The company will also acquire the remaining 49% stake in LRD held by Eighth Wonder for Rs. 1,547,183,820.

Upon completion of both transactions, Lee Hedges PLC will own 100% of the issued shares of Lanka Realty Developments.

The company noted that the proposed acquisition is subject to shareholder approval by way of a special resolution. It also said the Related Party Transactions Review Committee has reviewed and approved the transaction, classifying it as a related-party transaction.

Lee Hedges added that an additional announcement will be made upon completion of the transaction.