LR Global buys 10% Delmege stake from Nimal; gets Board seat

Wednesday, 13 July 2011 01:04 - - {{hitsCtrl.values.hits}}

LR Global Partners, a frontier markets focused private equity and asset management company based out of New York, with offices in Bangladesh, Vietnam, Singapore and Sri Lanka, acquired a 10% stake of Lewis Brown & Co (Pvt) Ltd., which own Delmege Forsyth & Co Ltd., through its investment vehicle, Lanka Strategic Investments (Pvt) Ltd.

Group Managing Director /CEO of LR Global Lanka Asset Management Company Channa de Silva has been appointed to the Board of Lewis Brown & Co (Pvt) Ltd.

Lewis Brown & Co (Pvt) Ltd. was recently acquired by Dhammika Perera and Vallibel One Ltd., Royal Ceramics Lanka PLC, Nimal Perera, Tharana Thorandeniya and A.M. Weerasinghe in a deal worth Rs. 3.1 billion.

De Silva holds a postgraduate degree from Harvard University, USA and the University of Melbourne, Australia, together with a Bachelor’s degree from the University of Colombo. He is an Edward S. Mason Fellow in Public Policy and Management from Harvard University and also served as a Teaching Fellow at Harvard Kennedy School.

De Silva is a qualified accountant and Fellow of the Chartered Institute of Management Accountants (FCMA – UK) and Fellow of the Association of Chartered Certified Accountants (FCCA – UK).

LR Global Lanka Asset Management Company is committed to sourcing fundamentally sound investment in support of the capital market in Sri Lanka.

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