Sri Lanka, Sept. 8 -- Business magnate Dhammika Perera has reportedly bought a significant shareholding in LAUGFS Holdings Ltd., according to a report by the Daily FT. The acquisition expands his growing business portfolio.

The report states that Mr. Perera secured a 40% stake from LAUGFS co-founder and Deputy Chairman, Thilak De Silva, with a further 10% purchase anticipated to be finalised in the near future. This move follows other recent acquisitions by Mr. Perera through his investment vehicles.

LAUGFS Chairman W.K.H. Wegapitiya commented that the acquisition should be seen as a collaborative effort rather than a hostile takeover.

He said both business leaders share similar entrepreneurial backgrounds, which he believes reflects t...