Adam Investments Limited (COSE:AINV-N-0000) made a tender offer to acquire the remaining 57.04% stake in PCH Holdings Limited (COSE:PCHH-N-0000) for approximately LKR 290 million in cash on July 3, 2014. Under the transaction, Adam Investments Limited will acquire approximately 143.75 million shares at an offer per share of LKR 2. Adam Investments Limited already holds a 42.96% stake in PCH Holdings. In a related deal, Adam Investments Limited (COSE:AINV-N-0000) made a tender offer to acquire the remaining 68.85% stake in PC Pharma PLC (COSE:PCP-N-0000) for approximately LKR 120 million in cash on July 3, 2014. The Board of Directors of Adam Investments has approved the deal.

As on November 27, 2014, the bid price was increased to LKR 2.5 per share resulting in increasing the deal value to approximately LKR 360 million. The tender offer will remain open from November 27, 2014 to December 18, 2014. As of December 2, 2014 Adam Investments Limited increased its stake up to 50.89% and the offer became unconditional. As of December 18, 2014, Adam Investments has extended the offer period until December 26, 2014 as instructed by SEC of Sri Lanka due to delay by PCH Holdings to forward the advice of its Board and Independent advisor's report.

Adam Investments Limited (COSE:AINV-N-0000) completed the offer to acquire an additional 2.62% stake in PCH Holdings Limited (COSE:PCHH-N-0000) for LKR 16.5 million in cash on December 26, 2014. Adam Investments received valid acceptances for 6.6 million shares of PCH Holdings.