The corporate and M&A offering at D. L. & F. De Saram has impressive capabilities in handling complex high-value and high-profile transactions, often spanning multiple jurisdictions. Managing partner Savantha De Saram heads up the team alongside Aloka Nandasena, who is well-regarded for her ‘astute understanding of the law, industry and regulatory trends’. Hansi Abayaratne, Inshira Hanifa and associate Ushara Ratnayake are standout names in the practice, as is consultant counsel Ramesh Perera.
Corporate and M&A in Sri Lanka
D. L. & F. De Saram
Practice head(s):
Savantha De Saram; Aloka Nandasena
Other key lawyers:
Hansi Abayaratne; Inshira Hanifa; Ushura Ratnayake; Ramesh Perera
Testimonials
‘Good quality and delivery.’
‘D.L. & F. De Saram focuses on providing bespoke and innovative solutions to the commercial needs of their clients.’
”The firm has an extremely competent legal team, and has developed a reputation for providing punctual and cutting-edge legal advice.’
‘Aloka Nandasena has an astute understanding of the law, industry and regulatory trends, which makes her advice well-rounded and relevant. She has always been extremely responsive, solution-oriented and has the highest regard for the timelines involved in any transaction she is involved in.’
Key clients
Bharti Airtel Limited
CG Capital Partners Global Pte. Ltd
ODF Pte. Ltd
Permira
Soundmouse Limited
Hg Capital
Kanrich Finance Limited
D P Logistics (Private) Limited
Wilbur Ellis Holdings, Inc.
Sojitz Corporation
GlaxoSmithKline plc
MullenLowe (Private) Limited
Rentokil Initial, UK
Aman Group
Hemas Pharmaceuticals (Private) Limited
Fortis Healthcare International Pte Limited
Work highlights
- Advising Bharti Airtel Limited on the transfer of a 100% stake in its local subsidiary Airtel Lanka (Private) Limited to Dialog Axiata, in consideration of being issued shares of Dialog.
- Advising CG Capital Partners Global Pte. Ltd on the proposed acquisition of Culture Financial Holdings Ltd of Cayman Islands from TPG.
- Advised ODF Pte. Ltd on the setting up of a duty-free mall in the Colombo International Financial Centre within the area of Colombo Port City Special Economic Zone, being one of the first projects of its kind within the CPC SEZ.
F. J. & G. De Saram
F. J. & G. De Saram‘s team is well regarded for its strength in advising on a wide range of corporate and commercial law matters. Ayomi Aluwihare has a strong track record in handling the gamut of corporate and commercial work, and Anjali Fernando is particularly experienced in assisting with joint ventures and projects involving the mining, hospitality and leisure sectors. Buwaneka Basnayake regularly acts for local clients in this arena. M&A and employment expert Shehara Varia, data protection specialist Shanaka Gunasekara and Himali Mudadeniya are also key names to note.
Practice head(s):
Ayomi Aluwihare; Shehara Varia; Anjali Fernando; Himali Mudadeniya; Buwaneka Basnayake; Shanaka Gunasekara
Testimonials
‘Thinks outside the box, and always willing to assist to make the deal a success.’
‘Shehara Varia has strong attention to detail and is meticulous in her work.’
‘The team has a very strong understanding of local law and regulatory requirements. Capital markets is a particular strength.’
‘Ayomi Aluwihare and Buwaneka Basnayake have a very strong understanding of local law and regulatory requirements, particularly in the area of capital markets.’
‘Their availability, promptness in response and innovative solutions put F. J. & G. De Saram ahead of other firms. They have a strong team which possesses an in-depth knowledge in capital markets which allows them to provide better solutions and recommendations which enable transition closures.’
‘Shanaka Gunasekara provides an exceptional service in delivering legal assessments. His pragmatic approach in addressing any legal concern has made out lives much easier.’
‘Buwaneka has been our go-to person for all corporate transactions and opinions. His knowledge and application of the law is exceptional, and he is able to provide legally sound, workable, business-friendly solutions whenever we have hit a snag in any transaction. Buwaneka is also completely reliable on agreed deadlines.’
Key clients
Asia Development Bank
Reliance Retail Ventures Limited
Colombo Stock Exchange
Dialog Axiata PLC
Hela Clothing Group of Companies
Eversheds (UK)
Trilegal
DLA Piper (Singapore)
Pearson Lanka (Private) Limited
Jun He
TMI Associates
The Colombo Port City Economic Commission
ING Hubs Sri Lanka
Sunshine Holdings PLC
Melsta Technologies(Pvt)Ltd
Unilever Sri Lanka Limited
Ekaterra Ceylon (Private) Limited
EY GBS (India) LLP
Jetwing Hotels Ltd
Work highlights
- Assisted a client with identifying, designing and developing a policy plan and strategy for the Colombo Port City to develop a leading economic zone both within the region and globally.
- Advised a company on the acquisition of a solar power sector entity.
- Advised the client on the set up of nature trails in Sri Lanka via a legal memorandum.
Julius & Creasy
Corporate law specialists Amila Fernando and Anandhiy Gunawardhana co-head the practice at Julius & Creasy
. The team has a particularly strong reputation for advising on the gamut of corporate and M&A matters, in both domestic and international contexts. The group's workload includes assisting with the regulatory and due diligence aspects of key transactions, fundraising matters, and agreements. The department is also noted for its expertise in handling transactions involving insurance and reinsurance companies. Shane Silva is well versed in advising on corporate restructurings. Diluka Rodrigo is another key name to note.
Practice head(s):
Amila Fernando; Anandhiy Gunawardhana
Other key lawyers:
Diluka Rodrigo; Shane Silva
Key clients
Hamblin Watsa Investment Counsel Ltd
Curtin University
Commercial Bank of Ceylon PLC
Sika Lanka (Private) Limited
Work highlights
- Advised Hamblin Watsa Investment Counsel Ltd on its investment in John Keells Holdings PLC by way of a private placement.
- Advised Curtin University on a possible rebranding of its services in Sri Lanka via the Sri Lanka Institute of Information Technology.
- Advised the Commercial Bank of Ceylon PLC on a multi-million debenture issuance.
Tiruchelvam Associates
The ‘precise and professional’ corporate and M&A team at Tiruchelvam Associates is well known for its strength in handling prominent, high-value commercial agreements, often multi-jurisdictional in nature. The group is also well versed in advising on joint venture agreements, restructurings and investments, large-scale project development matters, and share sales and purchases. At the practice’s helm are corporate and real estate specialist Asanka Abeysekera, Laila Nasry, a key contact for commercial transactions, and Nirosha Peiris.
Practice head(s):
Asanka Abeysekera; Laila Nasry; Nirosha Peiris
Other key lawyers:
Adheeba Ilyas
Testimonials
‘The team from Tiruchelvam Associates have always conducted themselves in a very professional manner.’
‘Nirosha Peiris has been available for any advice we may need. Her professionalism has been excellent.’
‘The team has shown their extensive knowledge in company law and regulations and ability to deliver quality services.’
‘Professional, timely and attentive.’
‘Asanka Abeyasekera has had excellent knowledge of our organization from its inception. Laila Nasry is highly professional.’
‘The team is extremely knowledgeable but they will still do their research and release the most accurate information only.’
‘Tiruchelvam Associates provides high-quality legal services at reasonable fees.’
‘The team were very knowledgeable and explained the process and timeline we needed to follow very articulately. Overall, it is a very professional practice who we were at ease working with from the other side of the world.’
Key clients
Galadari Hotels (Lanka) PLC
Labpath Solutions (Private) Limited
Tourism Industry Skills Council
Helios Ventures
Sarvodaya Group
Global Payments Asia-Pacific Limited/ Global Payments Inc.
Novo Nordisk A/S
Galadari Brothers LLC
Heineken Lanka Limited
Cisco Systems Management B.V.
Booking.com
Applexus Technologies Inc.
Dahnay Logistics Private Limited
Fujiwara Co. Ltd
Fujisun (Pvt) Ltd
Bloomberg
Japan Gateway (Private) Limited
Liaison office of Mitsui & Co., Ltd.|in Colombo
Medecins Sans Frontieres (Msf)|South Asia (Guarantee) Limited
RWB Chartered Accountants, UK
Care Station
A H International Lanka (Pvt) Ltd
Thirugnanam Mohan
Business Enterprise and Employment Support for Women in South Asia Network Limited
Work highlights
- Assisted Labpath Solutions (Private) Limited with the importation and distribution of a medical device, including the drafting of the distribution and sub-distribution agreements.
- Advised the Tourism Industry Skills Council on the Sri Lanka Skills Expo 2023.
- Advised Galadari Hotels (Lanka) PLC on all corporate legal and governance matters regarding a proposed project with a multinational hospitality entity.
Varners
The practice at Varners has a strong reputation for its experience in assisting such clients as the Colombo Port City Economic Commission with a broad range of corporate and commercial matters, including large-scale transactions. The client base spans a range of sectors, including construction, hospitality, energy, and shipping. Key areas of work for the group include the restructuring of corporate entities, M&A mandates, due diligence, takeovers, and large-scale project finance matters at both domestic and international level. The vastly experienced Raj Selvaskandan and Mahinda Haradasa are the practice leads. Senior associate Krishanth Rajasooriyar is a key name.
Practice head(s):
Raj Selvaskandan; Mahinda Haradasa
Other key lawyers:
Krishanth Rajasooriyar
Testimonials
‘Prompt responses and attention to detail.’
‘Always provides feedback in a prompt manner.’
‘Varners provides a very professional and a complete legal service when it comes to M&A. They also go the extra mile to provide additional advice on negotiations with their prior experience and knowledge of the optimal structure and strategies. This has been extremely helpful to us.’
‘Raj Selvaskandan is noteworthy for his experience, knowledge, negotiation skills, attention to detail and commitment.’
‘Krishanth Rajasooriya shows great knowledge, thoroughness and commitment.’
Key clients
BCD Travels
HerCapital
Xiaomi
LAUGFS Holdings Limited
LAUGFS Gas PLC
Sino Lanka Hotels
Colombo Port City Economic Commission
Bank of China
Heritage Partners
Heritage Partners‘ corporate and commercial practice has particular strengths in advising on the acquisition of high-value assets, restructuring loans and businesses, and joint ventures. Cross-jurisdictional work is a prominent area of instruction for the group, which acts for clients in a range of sectors including education, technology, hospitality, and mining. Practice head Arittha R. Wikramanayake is a highly regarded practitioner in the corporate arena. Savini Tissera has noteworthy expertise in transactional matters.
Practice head(s):
Arittha R. Wikramanayake
Other key lawyers:
Savini Tissera
Testimonials
‘A team of commercial solution providers who use their knowledge of different asset classes in a diligent, timely and succinct way.’
‘Wide experience and local, as well as international, knowledge.’
‘Their industry-specific knowledge and expertise is useful.’
Key clients
Colombo Stock Exchange
CIC Holdings PLC
JAT Holdings PLC
Diesel and Motor Engineering PLC
MAS Capital (Private) Limited
Janashakthi Limited
BOV Capital PTE LTD.
nVentures Growth Fund PTE LTD.
Bluestone Capital (Private) Limited
Lankan Angel Network
Ideal Automobile (Private) Limited
The Kandy Hotels 1938 PLC
Work highlights
- Advising Janashakthi Limited on the proposed sale and divestiture of a 33% stake in First Capital Holdings PLC to People’s Leasing and Finance PLC for LKR 4.9bn.
- Advised a client on the sale of a 25% stake in a company for LKR3.4bn.
- Advised MAS Capital (Private) Limited on its acquisition of assets of Bam Knitting (Private) Limited via a joint venture.
Nithya Partners
The practice at Nithya Partners is well known for advising clients from the banking, financial services and consumer goods sectors, among others, on the full array of corporate work. Regulatory matters, corporate restructurings and transfers of ownership are prominent in the team's workload. The group's corporate expertise also dovetails with its strength in assisting clients with shareholders' rights issues, IPOs, and acquisitions of shares. Naomal Goonewardena
heads up the cohort alongside M&A expert Nirusha Ratnatunga.
Practice head(s):
Naomal Goonewardena; Nirusha Ratnatunga
Testimonials
‘Naomal Goonewardena has a strong dual legal and accounting background.’
‘A professional and knowledgeable team.’
‘Their exceptional commercial knowledge gives Nithya Partners an edge over other firms.’
‘They are a strong team of people who possess an in-depth knowledge in capital markets, which allows them to provide better solutions and recommendations to close transactions.’
‘An evident in-depth knowledge of commercial and financial aspects of capital markets.’
‘Nithya Partners’ team is very practical in giving solutions to the business community. They are technically sound and specialised.’
‘Naomal Goonewardena has thorough knowledge and competency. He is one of the most reasonable lawyers, plus he has a sound background in finance and taxation work.’
Key clients
Diesel & Motor Engineering Company PLC
CT CLSA Holdings (Private) Limited
New Anthoney’s Farms (Private) Limited
Sunshine Holdings PLC
Ironwood Investments (Private) Limited
DFCC Bank PLC
LB Finance PLC
UB Finance PLC
Work highlights
- Assisted DFCC Bank PLC with a rights issuance valued at LKR6bn.
- Assisted Bartleet Capital (Private) Limited and Bartleet Transcapital Limited with an amalgamation.
- Advised investment manager CT CLSA Holdings Limited on its acquisition of Guardian Acuity Asset Management (Private) Limited, another licensed investment manager.
Sudath Perera Associates
Sudath Perera Associates‘ ‘knowledgeable, proactive and responsive’ corporate and M&A team has particular strength in handling significant mergers and acquisitions. Additionally, the cohort advises on large-scale corporate restructurings and reorganisations and joint venture agreements, often involving multiple jurisdictions. The ‘consummate professional’ Dushyantha Perera leads the practice, a key member of which is Hafsa Ifthikar, who is particularly experienced handling compliance and regulatory work.
Practice head(s):
Dushyantha Perera
Other key lawyers:
Hafsa Ifthikar
Testimonials
‘They are problem-solvers.’
‘Dushyantha Perera is a consummate professional – he has, time and time again, demonstrated his legal knowledge and commercial awareness. He identifies issues quickly and presents solutions promptly.’
Key clients
3M
Chevron Lubricants Lanka PLC
Toyota Lanka (Pvt) Ltd
Fonterra Brands Lanka (Private) Limited
Unifeeder FZCO
Nippon Paints Sri Lanka
Finlays
Samsung India Electronics Private Limited
JK Apparel Ltd
Takeda Pharmaceuticals
Work highlights
- Advised Direct Source Seafood USA, as Sri Lankan legal counsel, on its strategic partnership with Taprobane Seafoods Sri Lanka for the production, marketing and sale of Sri Lankan seafood in the US.
- Advised JK Apparel Manufacturing Ltd on a corporate restructuring and asset divestiture exercise relating to its various apparel manufacturing and export operations in Sri Lanka.
- Advised Lankalia (Pvt) Ltd on its acquisition of a 80% stake in Peacock Beach Hotel & Spa, in a transaction valued at over LKR1.25bn.
LegalBase
LegalBase‘s ‘sharp and proactive’ corporate and M&A team is led by the ‘outstanding’ Ali Tyebkhan. The practice is well versed in handling instructions from national and international clients across a wide range of sectors, as well as advising on the day-to-day contractual and due diligence side of corporate and commercial work. Legal director Natasha Burhan is a key figure in the group.
Practice head(s):
Ali Tyebkhan
Other key lawyers:
Natasha Burhan
Testimonials
‘LegalBase is excellent. The team has deep domain knowledge and expertise.’
‘They are particularly strong and effective in handling complex and sophisticated matters. This is coupled with practicality and their commercial, forward-thinking solutions to any issues we have to deal with.’
‘The team is formed of highly skilled professionals with deep experience in the multiple practice areas we require.’
Key clients
Edible Arrangements
M Advocates
ADG
The Smarty Train Limited
Marvel Limited
Avasam Limited
GMG Middle East Services
Role Models
Seamlessly Limited
Dilmah
K10 Apprenticeships Limited
Broker Back Office Limited
Eswaran Brothers
Mithril Asset Management
Chryso
George Petch International UK
W Food Group Pty Ltd
Printsource
Ebusiness Guru Limited
Takeaway Packaging Supplies Ltd
Bake N More Factory LLC
Sea House Food Stuff LLC
Work highlights
- Providing ongoing assistance to ADG in connection with a number of corporate and transactional matters.
- Assisting GMG with a range of corporate, commercial and M&A matters.
- Advising K10 on a wide range of day-to-day corporate and commercial work, including contractual arrangements.