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US firm cancels bid to buy Sri Lanka's airline
Published Sun, May 7, 2017 · 09:50 PM
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Colombo
A US equity firm that bid to buy a stake in Sri Lanka's loss-making national airline has pulled its offer, officials said on Saturday as the carrier scrambled for a new partner.
TPG, a San Francisco-based private equity firm, has withdrawn its bid for a 49 per cent stake in Sri Lankan, dashing hopes of a quick revival of the airline.
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