SRI LANKA's John Keells Holdings has bolstered its stake in South Asia Gateway Terminals (SAGT) to 37.97 per cent following its acquisition of a 4.22 per cent tranche from the Asian Development Bank (ADB), according to media reports.
They claimed that JKH paid US$4.41 million for the shares, when ADB exercised a put option to sell a 7.5 per cent 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 per cent, according to Lanka Business Online.
It added that JKH acquired a 7.5 per cent stake in SAGT in October 2006.
They claimed that JKH paid US$4.41 million for the shares, when ADB exercised a put option to sell a 7.5 per cent 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 per cent, according to Lanka Business Online.
It added that JKH acquired a 7.5 per cent stake in SAGT in October 2006.