Fair­field Hold­ings ac­quires con­trol­ling in­ter­est of Alethea Group

Daily Mirror (Sri Lanka) - - NEWS -

One of the coun­try’s old­est pri­vate ed­u­ca­tional in­sti­tu­tions, Alethea Group di­vested con­trol­ling in­ter­est of its eq­uity to Fair­field Hold­ings re­cently.

The trans­ac­tion was ar­ranged and su­per­vised by M Power Cap­i­tal which was re­spon­si­ble for the over­all trans­ac­tion as well as sell-side ad­vi­sory for Alethea, while PWC was the Ad­viser on the buy-side for Fair­field Hold­ings.

The ac­qui­si­tion, the first in­vest­ment for Fair­field Hold­ings in Sri Lanka, was con­cep­tu­alised and ini­ti­ated to en­able Alethea Group to ex­pand its scope and ac­tiv­i­ties, nur­tur­ing an even big­ger ex­panse in the bur­geon­ing ed­u­ca­tional sec­tor in Sri Lanka.

The com­ing to­gether of one of the old­est pri­vate schools in Sri Lanka which was es­tab­lished in 1927 and in­vest­ment com­pany Fair­field Hold­ings, will her­ald a new chap­ter for the ed­u­ca­tional group in en­hanc­ing its pres­ence in the coun­try’s ed­u­ca­tion mi­lieu. Cur­rently cer­ti­fied by both Cam­bridge In­ter­na­tional and Edex­cel Lon­don for its ac­cred­ited ex­am­i­na­tions, Alethea is one of the few schools which of­fers an in­te­grated sys­tem of study, wherein in­ter­na­tional and Sri Lankan stu­dents pur­sue the ed­u­ca­tional stream of their choice side by side. Alethea also of­fers the na­tional cur­ricu­lum in the English medium as a gov­ern­ment-recog­nised pri­vate school al­low­ing for greater op­por­tu­ni­ties for Sri Lankan stu­dents.

Fair­field Hold­ings’ pro­posal en­vi­sioned both back­ward and for­ward in­te­gra­tion augmented with state of the art tech­no­log­i­cally driven teach­ing aids and pro­gres­sive meth­ods which as­sured Alethea of the en­tity’s com­mit­ment to forge a com­mon vi­sion of em­pow­ered ed­u­ca­tion founded on equal­ity and con­sis­tently driven knowl­edge gath­er­ing.

The Ha­pu­galle/perera fam­ily with its 90-year as­so­ci­a­tion with Alethea, will re­main as share­hold­ers and con­tinue in an ex­ec­u­tive ca­pac­ity, guid­ing the school in all ed­u­ca­tional and ex­tracur­ric­u­lar mat­ters. Ani­tra Perera un­der­takes a new role as Co­or­di­nat­ing Prin­ci­pal/ Man­ag­ing Direc­tor, while Ku­mari Ha­pu­galle Perera will be Ex­ec­u­tive Direc­tor over­look­ing all school ac­tiv­i­ties. Dr. Sashien Perera re­mains as a Share­holder/direc­tor in a nonex­ec­u­tive ca­pac­ity. The new Board of Di­rec­tors com­prise Chair­man-prof. (Eng) G L Dhar­masri Wickramasinghe, Man­ag­ing Direc­tor Ani­tra Perera, Ex­ec­u­tive Direc­tor-ku­mari Ha­pu­galle Perera, Prashan­tha­lal De Al­wis PC, Brig. Ma­hen­dra Wi­jer­atne, A R Ab­dul Azeez, Pradeepa Kondagama and Dr Sashien Perera.

Seated from left: Man­ag­ing Direc­tor/co­or­di­nat­ing Prin­ci­pal - Ani­tra Perera, Chair­man Prof. (Eng) G L Dhar­masri Wickramasinghe and Ex­ec­u­tive Direc­tor - Ku­mari Ha­pu­galle Perera. Stand­ing from left: Pradeepa Kondagama, Prashan­tha­lal De Al­wis PC, Brig. Ma­hen­dra Wi­jer­atne, A R Ab­dul Azeez and Dr Sashien Perera.

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