UPDATE 1-Dubai firm takes over Sri Lanka's Assoc Motorways

Newswire

(Recasts, adds Dubai company confirmation) COLOMBO/DUBAI, July 28 (Reuters) - Dubai family-owned Al-Futtaim Group has bought a majority stake in Sri Lankan automotive firm Associated Motorways for 300 million dirhams ($81.70 million) to tap economic growth in the country. Shares of Associated Motorways (AMW), Sri Lanka's only agent for Nissan vehicles and Yamaha motorcycles, closed 2.65 percent up. "Al-Futtaim ... announced a deal worth in excess of 300 million dirhams to acquire a ...

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