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Al-Futtaim Group

July 29, 2008

Family-owned Al-Futtaim Group, the Dubai-based automotive, retail, electronics and financial services conglomerate, is to acquire a majority shareholding in Associated Motorways (AMW), one of the “crown jewels” of Sri Lanka's corporate sector.

Family-owned Al-Futtaim Group, the Dubai-based automotive, retail, electronics and financial services conglomerate, is to acquire a majority shareholding in Associated Motorways (AMW), one of the “crown jewels” of Sri Lanka's corporate sector.

The deal, which is worth in excess of $65 million, means Al-Futtaim will acquire the 51% held by Associated Electrical Corporation and the 20% held by John Keells – both investment holding companies.

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