JHK and APM Terminals increase stake in South Asia Gateway Terminal

Wednesday, 08 Oct 2008

It is reported that Sri Lanka’s John Keells Holdings has reportedly bolstered its stake in South Asia Gateway Terminals to 37.97% following its acquisition of a 4.22% tranche from the Asian Development Bank.

As per report John Keells Holdings is said to have paid USD 4.41 million for the shares when ADB exercised a put option to sell a 7.5% equity interest in SAGT.

The balance was snapped up by APM Terminals which increased the size of parent, the Maersk group’s stake to 29.5%. JKH had acquired a 7.5% stake in SAGT in October 2006.