Ali Asgher Shabbir acquired the additional 60.96% stake in Ceylon and Foreign Trades PLC (COSE:CFT-N-0000) for approximately LKR 430 million on July 27, 2017. As per the transaction, Ali Asgher Shabbir acquired 85.5 million shares of Ceylon and Foreign Trades PLC at LKR 5 per share. Post completion of the transaction, Ali Asgher Shabbir held 87.5 million shares, representing 62.42% stake in Ceylon and Foreign Trades PLC. In a related transaction, Ali Asgher Shabbir made an offer to acquire the additional 16.7% stake in Ceylon and Foreign Trades PLC for approximately LKR 120 million on July 27, 2017. Ali Asgher Shabbir completed the acquisition of the additional 60.96% stake in Ceylon and Foreign Trades PLC (COSE:CFT-N-0000) on July 27, 2017.