The largest sale of a controlling stake in Sri Lankan listed company by a foreign owner
Singer Asia Limited
Hong-Kong based holding company with consumer durables retailing, manufacturing and financing operations across Asia
Singer (Sri Lanka) PLC (“Singer SL”)
Largest consumer durables retailer in the country, listed on the Colombo Stock Exchange
Diversified Sri Lankan conglomerate
(Enterprise Value: US$ 275m)
In 2011/12, the shareholders of Singer Asia, the owner of Singer (Sri Lanka) decided to monetize this asset. Several international and local investment banks were hired but failed to complete a transaction.
Singer Asia engaged Asia Securities in May 2017 and was able to complete a sale within 5 months.
|Asia Securities’ Role:||Exclusive sell side advisor, managing all aspects of the transaction, including buyer identification, diligence, negotiations and closing|
|Transaction Strategy||A targeted solicitation of a limited number of Sri Lankan buyers due to client requirement to minimize information leakage and disruption|