The companies involved in the purchase are NDB Capital Holdings, ACL Cables PLC and Trydan Partners Ltd.

From shares valued at 125 million, 93,900 were made from five crossings at 17.90 a share.

The selling of Hemas Power PLC coincides with power supplier Heladhanavi Plant ending their agreement with Hemas Power by the end of this year.

The name of the company is also expected to be changed under the new deal.

It is understood that the three companies are yet to get into an agreement with the Electricity Board.