Thursday, 11 December 2014 - 17:07
Capital Alliance Seals Rs. 1.68 Billion Deal for Hemas Holdings PLC
Capital Alliance, Sri Lanka’s leading full service investment bank recently advised Hemas Holdings PLC (HHPLC) on the sale of the company’s controlling stake of Hemas Power PLC (HPWR) worth Rs. 1.68 billion. CAL acted as the sell-side advisor for the deal which was a landmark transaction for Hemas Holdings PLC. The company sold its power business as part of an ongoing strategic effort to concentrate on its core business areas of Wellness, Leisure and Mobility.
CAL implemented international best practices throughout the sale process including a multi-stage bidding system and the use of online data rooms. Given that both HHL and HPWR were listed entities, CAL also managed all the sensitivities and confidentiality requirements surrounding the sale. The professional process followed by CAL attracted many highly reputed local and international buyers. After a rigorous process extending over six months, the stake was awarded to a consortium of buyers which was led by the Management of Hemas Power.
Hemas Power has been an active force in Sri Lanka’s power and energy sector, operating thermal and mini hydro plants that contribute to the power supply of the national grid and is a listed company on the Colombo Stock Exchange.
Commenting on the deal, Deshan Pushparajah, Head of Investment Banking, CAL stated, “We are proud to be associated with this landmark transaction for Hemas Holdings PLC, one of the country’s leading conglomerates. Our objective at CAL is to build strong partnerships with our clients based on an intimate knowledge of their needs. This sale brought with it, its own layers of complications, but the approach we used to solve many of these challenges, led to Hemas obtaining the best possible value for an asset which they had carefully built over many years.”
The CAL Group of companies deliver integrated and customized financial and investment solutions for a diverse portfolio of clients. CAL’s service offering also includes investments and wealth management, fixed income securities, investment banking and equity broking. This mix of expertise allows CAL to offer integrated and customized solutions to its customers across the entire financial spectrum. The company strives to build lasting relationships with all of its clients, in order to acquire an in-depth understanding of their needs and goals. CAL comprises a dynamic team of individuals with extensive local and international market experience. Since its inception in 2000, CAL has built a reputation for itself as a market leader, capable of continuously meeting client expectations and delivering excellence in research, ethical dealing, confidentiality and product innovation.