Dubai Al-Futtaim buys 71 pct stake in S.Lankan Asso.Motorways

Newswire

COLOMBO, July 28 (Reuters) - Dubai-based engineering firm Al-Futtaim bought a stake of more than 71 percent in a Sri Lankan motor vehicle company, Associated Motorways , on Monday, analysts said. Associated Motorways is the sole agents for Nissan vehicles and Yamaha motor cycles in Sri Lanka. "Over 71 percent of the Associated Motorways shares held by two companies were sold to Dubai based Al-Futtaim at 174.50 rupees a share," Geeth Balasuriya, assistant research manager at HNB ...

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