📈 Janashakthi PLC to Acquire 100% Stake in Continental Insurance Lanka Limited

Janashakthi PLC (JXG) has signed a Share Purchase Agreement with Melstacorp PLC (MELS) to acquire a 100% stake in Continental Insurance Lanka Limited (CILL), subject to Insurance Regulatory Commission of Sri Lanka (IRCSL) approval. • Acquisition Structure: • Initial controlling stake of 81% • Remaining 19% acquired on a staggered basis (9% in Year 1, 10% in Year 2) • CILL Financial Overview (FYE25): • Gross Written Premium (GWP): LKR 10.73 Bn • Investment Portfolio: LKR 6.64 Bn • Total Assets: LKR 14.20 Bn • Strategic Impact: • Re-enters and expands footprint in Sri Lanka's general insurance and financial services sector • Integrates CILL’s network of 61 business locations and 700+ employees into JXG's ecosystem • Leverages technology to drive innovation and integrate broader financial solutions