Sri Lanka

IFLR1000 Reviews

Financial and corporate

Full-service law firm Varners has been active in Sri Lanka since 1986. Key figures include partners Rajaratnam Selvaskandan, Mahinda Haradasa and Vinothini Amarasekara. The firm maintains two offices in Colombo.


Focusses / specialisms 

The firm is recognized for its well-established banking, M&A and project development practices.

It has experience advising domestic and foreign clients on a range of matters including restructuring, debt and equity offerings, infrastructure projects, project financing, market-entry, and shareholder exits.


Key clients  

The firm recently acted for clients including Galle Face Properties, Marsylka Manufacturing Company, Bank of China, Ceyline Holdings, CHEC Port City Colombo and Cashwagan.


Research period review: 31st edition (2020/2021) 

During the review period, the firm was particularly active on corporate and M&A and project development work. A cross border highlight on the corporate side saw the firm acting for a multinational conglomerate on a high-value acquisition. In a standout projects deal, the firm advised an international client on a first of its kind land reclamation and development project in South Asia.

In banking, the firm recently advised a conglomerate on regulatory compliance matters and on a joint venture in the fintech space. The firm was also active in the capital markets space and assisted an international client with its listing on the London Stock Exchange.

The firm expanded its corporate team with the addition of partner Rahal Gunaratne from Dissanayake Amaratunga Associates.


Deal highlights: 31st edition (2020/2021) 

Capital Metals LSE listing

Colombo International Financial City

Comercial Projar corporate restructuring

Mannar mineral sand exploration

Soorya Bala Sangramaya


Client feedback: 31st edition (2020/2021)


"Structuring and content of agreement."

"Professional, in-depth knowledge of subject. Expertise on M&A. Quick responses to queries."


Project development : Mining

"They have provided sound and pragmatic advice on how to deal with this case."


Restructuring : Corporate

"Detailed preliminary surveying. Efficient execution. Excellent understanding of foreign clients' concerns and practical operational difficulties we face locally. Practical consultation/advice given based on latest legislation. Very attentive to smallest detail and focus on solving clients' needs."


Vinothini Amarasekara

"Listening and diagnosing the problem; communication and availability; network of contacts; practical knowledge and experience."

"As well as being a very nice lady to deal with, she has provided us with sound and pragmatic advice."


Raj Selvaskandan

"Strong analytical skills and structuring."

"Expertise on M&A and industry knowledge."