A 6-month old deal to sell Vallibel Power Erathna Ltd (VPEL) owned by businessman and Board of Investment Chairman Dhammika Perera will be finalised by next week, according to a VPEL source.
He said the American party interested in buying the company is currently in town and the discussions are on to this effect.
"Mr. Perera and the US party interested in buying the power project were discussing the deal this week and they are to come to an arrangement by next week," he told The Sunday Times FT. The transaction has been in the air since June. In June, the company said in an announcement to the stock exchange that a foreign buyer is doing a due diligence on this company, intending to buy it.
VPE posted a profit of Rs.377 million for the year ended 31st March 2008 , which is a 147 % increase compared to its Rs.152.8 million profit last year. Dhammika Perera sold his Vallibel Power Kahawatta Limited which had the 10 mega watt Didul power project for Rs.2 billion.