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CEB reduces stake in LTL Holdings to settle energy debt

May 28, Colombo (LNW): The Ceylon Electricity Board (CEB) has partially settled its outstanding dues to West Coast Power (Pvt.) Ltd by divesting a 28 per cent shareholding in LTL Holdings (Pvt.) Ltd., reports claimed.

According to a recent disclosure to the Colombo Stock Exchange, the CEB transferred the shares on 7 February 2024, for a total consideration of over Rs. 26 billion (Rs. 26,081,160,000).

This transaction was carried out under Section 8.2 of the Listing Rules of the Colombo Stock Exchange.

As a result of this share transfer, the CEB’s stake in LTL Holdings (Pvt.) Ltd has now been reduced to 35 per cent.

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