The Sri Lankan government is set to take over a private resort worth over Rs. 500 million rupees, according to Lanka Business Online.
Dunamis Capital Plc, the company that has a 76 percent stake in the land, said the property in Nuwara Eliya was valued at Rs. 536 million.
It received an acquisition order on the 10th of June, stating the government would be seizing control.
LBO also reported that two listed firms were previously entirely taken over by the state with no compensation being paid to stakeholders.
Also see our previous posts:
Sri Lankan Government to 'takeover 36 private companies' (01 November 2011)
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