Standard Chartered Private Equity Backs Sri Lanka’s Abans with US$40 Million (Asia)

Source: Asian Venture Capital Journal  |  Author: Susannah Birkwood

Standard Chartered Private Equity (SCPE) has reportedly invested US$40 million in Sri Lankan home appliance and electronics retailer Abans. Carrying global brands including LG, Toshiba, Mitsubishi Electric, Haier, Whirlpool, Sanyo, Sharpe, Philips, Apple and HP, Abans currently operates 400 showrooms across Sri Lanka. The company will use the capital to add 200 new employees, expand its retail network and complete the backward integration of manufacturing affiliate Abans Electricals.