, Singapore

Parkson Retail Asia in talks to sell stake in Sri Lankan associate firm

It has 21 days to accept an interested party’s offer.

Parkson Retail yesterday revealed that it has received takeover offer documents for its 47.5% stake in its Sri Lanka associate ODEL, a leading domestic retailer.

The move was made by Softlogic, a Sri-Lanka conglomerate that offers Rs22/ share.

PRA has 21 days from September 22 to accept the offer. The offer closes at 4.30 p.m. Sri Lanka time on 13 October 2014.

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