Hall Of Fame

Corporate and M&A in Sri Lanka

D. L. & F. De Saram

The corporate department at D. L. & F. De Saram holds ‘practical hands-on knowledge’ in matters pertaining to commercial activity, in particular multijurisdictional work encompassing incorporations and acquisitions, fielding a ‘pragmatic and practical’ attitude to various high-value mandates. Savantha De Saram co-heads the team with Aloka Nandasena, noted as ‘exceptionally effective’ in corporate matters, especially M&A-related enquiries. Hansi Abayaratne and Inshira Hanifa both have over 10 years of experience in corporate, M&A and finance-related matters across a spectrum of industries, including energy, construction and real estate. Senior associate Ushara Ratnayake is a highly active member of the team, assisting in numerous multijurisdictional mandates involving amalgamations or divestitures.

Responsables de la pratique:

Savantha De Saram; Aloka Nandasena


Les références

‘Practical hands-on knowledge and understanding of the commercial aspects of a transaction in order to ensure the deal progresses smoothly during legal discussions without the client taking any undue risk from a legal perspective.’

‘I have worked with Aloka Nandasena on multiple transactions, very knowledgeable and practical in her approach to transactions.’

Very efficient and provides responses to key issues in a transaction in a timely manner. Methodical and easy to work with.’

Principaux clients

Deloitte Shared Services India LLP


Government of Sri Lanka


Tata BlueScope Steel Private Limited (India) and BlueScope Steel Limited (Australia)


Sunshine Healthcare Lanka Limited and Sunshine Holdings PLC


Accenture Holdings B. V


National Dairy Development Board, India


Bharti Airtel Limited


CG Capital Partners Global Pte. Ltd


Pernod Ricard Gulf


Kanrich Finance Limited


Evergreen Marine Corp. (Taiwan) Ltd


Sri Lanka Savings Bank


Ceylon Knit Trend (Private) Limited


CEVA Logistics Headoffice BV


GlaxoSmithKline plc


David Pieris Holdings (Private) Limited


Mitsubishi Corporation


Aman Group


Principaux dossiers


  • Advised Deloitte Shared Services India LLP in admitting PricewaterhouseCoopers’ (Old Association) Sri Lankan and Maldives firms to the Deloitte network.
  • Advising Bharti Airtel Limited on the transfer of 100% of shares of its local subsidiary, Airtel Lanka (Private) Limited (“Airtel Lanka”), to Dialog Axiata PLC (“Dialog”) and the subsequent merger between Airtel Lanka and Dialog.
  • Advising Sunshine Healthcare Lanka Limited (SHL) and Sunshine Holdings PLC on the proposed equity infusion by International Finance Corporation (IFC) in SHL.

F. J. & G. De Saram

F. J. & G. De Saram‘s ‘reliable and approachable’ corporate law division fields a ‘plethora of knowledge and experience‘ across a broad spectrum of work, advising multinationals in Sri Lanka in high-value and sophisticated matters pertaining to share acquisition and divestment, capital financing and ongoing amalgamations. Ayomi Aluwihare is a key member of the team in capital market, investment and finance sector-related activities, while Shehara Varia takes point on the team’s M&A-related matters. Anjali Fernando oversees work pertaining to the construction, infrastructure and hospitality sectors. Shanaka Gunasekara and Himali Mudadeniya are both highly active advising clients in the baking and finance sector, while Buwaneka Basnayake holds over 15 years of experience in capital markets and foreign expansion advice.

Responsables de la pratique:

Ayomi Aluwihare; Shehara Varia; Anjali Fernando; Himali Mudadeniya; Buwaneka Basnayake; Shanaka Gunasekara


Autres avocats clés:

Praveeni Algama; Shevanthi Perera


Les références

The plethora of knowledge and experience demonstrated by the partners is what I find unique. They are also very reliable and approachable.’

‘Our recent interactions have been with Ayomi Aluwihare, Buwaneka Basnayake and Praveeni Algama. Their knowledge and expertise in corporate and investment-related matters are par excellence. ’

‘Punctual.’

Principaux clients

Dialog Axiata PLC


Emerald Sri Lanka Fund I Limited


Hayleys PLC


TRF Singapore Pte. Ltd


Lanka Credit and Business Finance Limited


Asia Development Bank


Minor International PCL


Colombo Stock Exchange


Reliance Retail Ventures Limited


D L A Piper (Singapore)


Principaux dossiers


  • Acted as the legal advisor to TRF, a Tata Group company, on the sale of its shares in Dutch Lanka Trailer Manufacturers Limited.
  • Advised Dialog as local counsel on the proposed acquisition of Airtel Lanka in consideration of shares to be issued to Airtel India in Dialog including the negotiation and execution of inter alia the Share Sale Agreement and carrying out a due diligence of Airtel prior to the acquisition
  • Advised International Finance Corporation (“IFC”), a member of the World Bank Group on the proposed investment of up to Sri Lanka Rupees Three Billion Two Hundred Seventy Million (3,270,000,000) in Sunshine Healthcare Lanka Limited (“SHL”).

Julius & Creasy

The corporate department at Julius & Creasy is experienced in a range of domestic and international matters in the consumer goods, energy and financial sectors. The team is retained for regulatory matters, including compliance due diligence negotiation with the Board of Investment, facilitation of investments and incorporations, alongside shareholder and share disputes. Amila Fernando and Anandhiy Gunawardhana co-head the team, lending to the team over two decades of corporate law experience. The team also boasts the extensive company and subsidiary law expertise of Diluka Rodrigo, along with Shane Silva’s background in restructuring, due diligence and foreign investments.

Responsables de la pratique:

Amila Fernando; Anandhiy Gunawardhana


Autres avocats clés:

Shane Silva; Diluka Rodrigo


Principaux dossiers


Tiruchelvam Associates

Boasting ‘exceptional level of professionalism’, along with ‘straightforward and sound business advice’, the commercial and corporate practice at Tiruchelvam Associates sees its greatest strength in the breadth and depth of its corporate law experience, advising on a broad spectrum of transactional matters and shareholder divestments, corporate governance and due diligence services, along with the setting up of companies in heavily regulated sectors such as pharmaceuticals and non-profits. The team is especially experienced in cross-jurisdictional work, regularly being retained for investment-related matters from several Asian jurisdictions.  Asanka Abeysekera and Nirosha Peiris co-head the team, while Laila Nasry is considered a port of call for commercial transactions and pharmaceutical sector-related matters.

Responsables de la pratique:

Asanka Abeysekera; Nirosha Peiris


Autres avocats clés:

Laila Nasry


Les références

‘Professional, knowledgable, eloquent.’

‘The partners and staff at Tiruchlvam demonstrated an exceptional level of professionalism, consistently working to understand our specific needs and providing solutions that aligned perfectly with our requirements within the legal framework.’

‘I find them to be very thorough in the subject matter. Always eager to share their opinion very directly.’

Principaux clients

International Finance Corporation (IFC), World Bank Group


Galadari Hotels (Lanka) PLC


Abdul Latif Galadari Holdings Limited


SIS International Holdings Ltd


DCSL Breweries Lanka Limited (Formerly known as Heineken Lanka Limited)


Anabion Pharmaceutical Industries Ltd.


Mitsui & Co. Ltd.


Hettich India (Private) Limited


Httpool Holdings UK Limited


PACT INC.


eBEYONDS (Pvt) Ltd.


Medecins Sans Frontieres (MSF) South Asia


Global Payments Asia-Pacific Limited


Novo Nordisk Lanka (Private) Limited


Lankaloha Hardware Limited


Cisco Systems Management B.V.


Principaux dossiers


  • Advising the International Finance Corporation (IFC) appointed as the Transaction Advisor by the Government of Sri Lanka (GOSL) in relation to the divestiture of GOSL’s majority stake in Sri Lanka Telecom PLC.
  • Advised SIS International Holdings Ltd., in relation to its proposed acquisition of luxury car dealership Prestige Automobile (Private) Limited.
  • Advised Galadari Hotels Lanka PLC on entering into an agreement with the Board of Investment of Sri Lanka for a proposed investment of USD 33.5 million to refurbish Galadari Hotels Colombo

Heritage Partners

The ‘very well diversified’ corporate, commercial and M&A practice at Heritage Partners fields a ‘thorough knowledge of the area of law’, and, along with its corporate governance, debt restructuring and due diligence work, has notable expertise in transactional matters. The team is especially adept at share acquisition, pursuing both domestic and cross-jurisdictional mandates involving divestiture, raising of investments, and compliance with regulations pertaining to public listing of shares, with notable activity in the financial, venture capital and technology sectors.  Arittha R. Wikramanayake heads the practice, holding over 40 years of experience in corporate matters. He is assisted by the expertise of Eric Dathika Wikramanayake and Savini Tissera, both keenly experienced in corporate governance and transactional matters.

Responsables de la pratique:

Arittha R. Wikramanayake


Autres avocats clés:

Eric Dathika Wikramanayake; Savini Tissera


Les références

‘The team makes the difference.’

‘Dathika Wickremanayake is efficient and gets the job done for us.’

‘The team is very well diversified and has thorough knowledge of the area of law.’

Principaux clients

Janashakthi Limited


Ceylon Capital Market Advisors Limited


Medrac (Private) Limited


Minority shareholder of Atlas Axilia Company (Private) Limited


Sozo Beverages (Private) Limited


Arc Asia Limited


Principaux dossiers


  • Advised Nestle Lanka Limited on the squeeze out of its minority shareholders.
  • Advised on the restructuring of the Ambeon Group.
  • Advised the minority shareholder of Atlas Axilia Company (Private) Limited on the divestiture of the remaining stake in Atlas Axilia Company (Private) Limited.

Nithya Partners

Fielding ‘a diverse team of experts able to handle most matters,’ the corporate, Commercial and M&A department at Nithya Partners is especially active in transactional matters, including amalgamations, share sales and acquisition of publicly listed companies. Additionally, the team is proficient in corporate due diligence work, advising multinational companies on regulatory compliance. Naomal Goonewardena is highlighted for his ‘thorough analysis of facts and the law,’ and co-heads the department with the ‘exceptional’ Nirusha Ratnatunga, a specialist in corporate law and acquisitions.

Responsables de la pratique:

Naomal Goonewardena; Nirusha Ranjitkumar Ratnatunga


Les références

‘I have dealt exclusively with a partner in Nithya Partners. The advice provided is unique, particularly regarding the financial sector, tax, etc.’

‘Neomal Gunawardhane is both qualified in law and accountancy and thus does not look at transactions only from the perspective of legal. Provides advice based on a thorough analysis of facts and the law, which helps clients to make decisions on commercial transactions.’

‘They are a very dynamic team offering a wide range of practice areas. In my experience, they are committed to delivering innovative, timely, and commercially viable solutions to the legal challenges that are referred to them.’

Principaux dossiers


Sudath Perera Associates

Highlighted for its ‘global mindset’ and ‘deep understanding of specific frontier markets’, the corporate and commercial law department at Sudath Perera Associates is a port of call for corporate transactional matters, including cross-border M&A and acquisition of shares. In addition, the team is experienced in regulatory due diligence and high-value corporate restructuring. Noted as ‘collaborative and extremely effective’, Dushyantha Perera heads the team and is assisted by the corporate background of Nipuni Samarasekara, along with Hafsa Ifthikar‘s regulatory and compliance expertise.

Responsables de la pratique:

Dushyantha Perera


Autres avocats clés:

Nipuni Samarasekara; Hafsa Ifthikar


Les références

‘Global mindset, deep understanding of specific frontier markets and how that connects back to more established markets.’

‘Dushyantha Perera is collaborative and extremely effective. He acts with an owner mindset for his clients, proactively taking responsibility to get things done vs only just advising.’

‘The team is highly responsive and prompt, we have worked on joint mandates for our Indian clients operating in Sri Lanka, working on aspects of data protection and privacy. While the Sri Lankan laws are in an evolutionary stage the team was able to provide clear and in-depth advice.’

Principaux clients

Associated British Foods


Deloitte Partners


United Petroleum (Australia)


Ansell


Fonterra


Unifeeder (part of DP World UAE)


Volvo Cars


Chevron


Pacific Air Agency Group (Korea)


Takeda Pharmaceuticals


Principaux dossiers


  • Advised the former PwC member firms in Sri Lanka and the Maldives on their accession to the Deloitte network.
  • Advised United Petroleum of Australia on its US$27.5Mn FDI into the retail fuel market in Sri Lanka.
  • Advised Direct Source Seafoods USA on its US$20Mn strategic partnership with Taprobane Seafoods Sri Lanka.

LegalBase

Fielding ‘decades in handling complex cases and transactions’, the corporate and commercial department at LegalBase holds ‘seasoned professionals’ with significant experience in full-service corporate services, overseeing transactional, contractual and regulatory due diligence for companies seeking to establish themselves in Sri Lanka, along with companies seeking advise in foreign jurisdictions, particularly the UAE. Ali Tyebkhan leads the team and is assisted by the extensive experience of co-founding partner Sudath Perera. Natasha Burhan is frequently active in contractual agreement drafting in the IT and investment sectors.

Responsables de la pratique:

Ali Tyebkhan


Autres avocats clés:

Sudath Perera; Natasha Burhan


Les références

‘LegalBase has foreign lawyers who bring international expertise which is very relevant in today’s context, where most transactions need input from lawyers having knowledge and experience in handling cross-border transactions.’

‘Trustworthy and proactive.’

‘Very approachable and hands-on with every case they take on.’

Principaux clients

Edible Arrangements


M Advocates


ADG


The Smarty Train Limited


Avasam Limited


Seamlessly Limited


Dilmah


K10 Apprenticeships Limited


Broker Back Office Limited


Eswaran Brothers


Mithril Asset Management


Chryso


George Petch International UK


Printsource


Ebusiness Guru Limited


Takeaway Packaging Supplies Ltd


Bake N More Factory LLC


Sea House Food Stuff LLC


Teen Tips Limited


It Happens Education Ltd


TrustQore


Principaux dossiers


  • Providing ADG with ongoing services in connection with a number of varied corporate and transactional matters.
  • Assisted TrustQore in drafting various agreements which serve as foundational documents for the set-up of their new business in the UAE.
  • Advised K10 on a wide range of day-to-day corporate and commercial work, including advising on appropriate contractual arrangements as well as structuring, drafting, reviewing, and negotiating their contracts.