Khazanah Nasional Berhad (“Khazanah”) via its Special Purpose Vehicle (“SPV”), Broga Hill Investments Ltd., today acquired an 8.85% stake in John Keells Holdings Plc. (“JKH”), Sri Lanka’s largest listed conglomerate, in a deal worth RM366 million (LKR 14.5 billion).
The JKH group has business interests in several key sectors of the Sri Lankan economy including tourism, transportation, leisure & tourism, property, retail and financial services.
Khazanah’s Managing Director, Tan Sri Dato’ Azman Haji Mokhtar said: “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.
“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”.
Sri Lanka has already been a positive experience for Khazanah’s investee companies. Axiata’s subsidiary, Dialog, is the largest mobile telephony player in Sri Lanka, while CIMB Group has established an investment banking joint venture in the country.
Sri Lanka is currently experiencing a strong economic revival post-conflict as evidenced by recent economic growth of about 8% per annum.
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For further clarification, please contact Mohd Asuki Abas at +603 2034 0000, or via e-mail to asuki.abas@khazanah.com.my.
About Khazanah Nasional Berhad
Khazanah is the strategic investment fund of the Government of Malaysia entrusted to hold and manage the commercial assets of the Government and to undertake strategic investments. Khazanah is involved in various sectors such as power, telecommunications, banking, airport management, infrastructure, property development, broadcasting, semiconductor, steel production, electronics, investment holding, technology and venture capital. Some of the key listed companies in Khazanah’s investment portfolio include Telekom Malaysia Berhad, Tenaga Nasional Berhad, CIMB Group, Malaysia Airlines System Berhad, Malaysia Airport Holdings Berhad, UEM Land Holdings Berhad, Axiata Group Berhad and Time dotCom Berhad.
For further information on Khazanah, please visit www.khazanah.com.my