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Blue Ocean Group acquires 60 per cent stake in Kelsey Development – By Hiran H.Senewiratne Source:-island Leading real estate company, Blue Ocean Group, yesterday acquired a 60 per cent stake in Kelsey Development PLC for Rs. 257 million, on Tuesday, stock market analysts said. The stake amounting to 10.457 million shares was done at Rs. 24.60. The sellers were the Schaffter brothers, Praksah and Ramesh, who held 30% each. With the acquisition of control, Kelsey will be a member of the Blue Ocean Group, a pre-eminent real estate conglomerate with a well-balanced portfolio, founded by top professional cum business leader Sivarajah Thumilan who is also the chairman and CEO. Control of Kelsey was held by Janashakthi Ltd. and related parties. In September the parent, Janashakthi Ltd., sold its entire stake of 85.24 per cent or 14.85 million shares to Kelsey, to its ultimate shareholders Prakash and Ramesh with a view ...