Khazanah buys stake in listed Sri Lanka conglomerate

Khazanah Nasional Bhd has acquired an 8.85% stake in John Keells Holdings Plc, Sri Lanka's largest listed conglomerate, in a deal worth US$ 120 millionl.

The acquisition was completed through Kahazanah's special-purpose vehicle Broga Hill Investments Ltd,

The JKH group had business interests in several key sectors of Sri Lanka's economy, including tourism, transportation, leisure and tourism, property, retail and financial services, Khazanah said in a statement.

"The entry into JKH offers Khazanah and its group of companies opportunities to participate across a wide range of businesses where the JKH group is involved in," said Khazanah managing director Tan Sri Azman Mokhtar. “At the same time, it allows Khazanah to participate in Sri Lanka's positive growth story and is in line with our strategy of investing in the region.”

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