Sri Lanka

Founded in 1997, Colombo-headquartered Nithya Partners is among the best-regarded law firms in the financial and corporate space in Sri Lanka.

Focusses / specialisms  

The firm is one of the market leaders in the financial and corporate space and is ranked Tier 1 in banking, capital markets, M&A, project finance and project development. 

The banking team has experience advising both lenders and borrowers on a range of financing mandates. 

The corporate and M&A team is experienced in acting for clients such as corporates and financial institutions on a variety of matters, including buy and sell acquisitions and joint ventures. 

Sectors of activity include banking and financial services, technology and telecommunications, energy, and transport.

Key clients 

Clients include Bank of China, Bank of Ceylon, DFCC Bank, State Bank of India, Capital Alliance, Brown and Company, Resus Energy, Diesel & Motor Engineering, Ironwood Investments, New Fortress Energy and Lakdhanavi.

Research period review: 33rd edition (2022/2023)  

The banking team was active for a mix of lenders and borrowers on asset finance, trade finance and financing.  

In the capital markets area, the firm advised on debt and equity transactions. It kept busy with debenture issue, IPOs and private placement of shares. 

The M&A team was very active in acquisitions for both the buy and sell sides. The firm covered clients from different sectors including financial services, agriculture, and consumer goods and services. 

In projects, the firm was active on energy and mining projects.

Deal highlights: 33rd edition (2022/2023)  

Brown and Company’s debenture issue.  

CT CLSA’s acquisition of the entirety of the shares of Guardian Acuity Asset Management. 

State Bank of India’s $1 billion credit facility. 

UB Finance’s IPO. 

The Western Container Terminal of the Colombo South Harbour project.

Client feedback: 33rd edition (2022/2023) 

Capital markets 

“They have the ability to advise on legal as well as tax-related matters – very knowledgeable and able to provide practical solutions within the applicable framework.”

Financial restructuring 

“They have in-depth knowledge on and around the relevant laws/regulations related to restructuring and provide very specific and effective legal solutions for various restructuring scenarios.”

M&A 

“They are experts in their field and have a good work ethic. They are very responsive and gave very practical advice.” 

“They provide advice on M&A, taxation, and drafting the SSPA.”

Naomal Goonewardena 

“Naomal is an experienced and senior legal adviser, who is very thorough in the laws and regulations of Sri Lanka. He takes his time to ensure our client gets the best possible solution. Further, he has a very good knowledge around the financial aspects of a company, which he leverages to recommend very creative, out-of-the-box structures for financial restructuring. This is an added advantage we see from a legal adviser.” 

“Very knowledgeable on legal, finance and tax matters. He has the ability to provide a holistic solution considering other areas of concern.”

Nirusha Ranjitkumar Ratnatunga 

“Clear communication.” 

“She is very accessible and responsive. She gives clear and concise feedback and is extremely good at meeting tight deadlines. Her industry expertise is also very good, and we can always rely on her to come through.”