$ 60 m EAP Group sale to UK Lyca Group today?
The sale of EAP Group assets for $ 60 million is speculated to be concluded today, with foreign investors having arrived yesterday, Daily FT learns.
The Central Bank has been negotiating with Singapore-based Straits Grid Ltd., and the intermediary, Malaysian businessman Sudhir Jayaram, to dispose the assets owned by ETI Finance.
The actual buyer is believed to be Lyca Group, UK, owned by Sri Lankan-born successful entrepreneur Allirajah Subaskaran.
The EAP Group assets identified for sale include the television and broadcasting business, cinemas, and hotels. Daily FT learns the planned sale also got a higher offer from Asia Broadcasting Corporation Group, owned by Rayynor Silva.
Central Bank has been tight lipped about negotiations or naming interested parties.
There have ...