NDBIB executes 2nd M&A deal in renewable energy 

Saturday, 10 July 2021 00:27 -     - {{hitsCtrl.values.hits}}

NDB Investment Bank (NDBIB) yesterday executed its second M&A transaction in the renewable energy space in the last few months. NDBIB assembled a consortium of shareholders, comprising Dilanka Jinadasa and related parties, Emerald Sri Lanka Fund 1, and Dr. T. Senthilverl, constituting a controlling interest of 61.68% in Panasian Power PLC, and ran a highly competitive M&A process leading to the successful divestiture to RIL Property PLC.

This is the second transaction that NDBIB has engaged in with RIL Property PLC in the last two months after managing the successful divestiture of Foodbuzz Ltd. in early June, adding to the long list of transactions that NDBIB has engaged with RIL on since its IPO.

With this transaction, NDB Zephyr Partners Lanka Ltd. has achieved its first exit of a portfolio company of the Emerald Sri Lanka Fund 1, having infused growth capital and guided the company to leap forward both locally and overseas. 


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