May 11, Colombo: The Lanka Orix Leasing Company (LOLC) took a further step ahead in becoming one of the leading players in the financial services industry through its bold initiative to acquire the controlling stake in Commercial Leasing, one of the well managed financial institutions with significant exposure to leasing, factoring and insurance brokering.

LOLC on Friday acquired 66.68 percent stake of Commercial Leasing Company Ltd (CLCL) in a bid to expand LOLC's business interests.

LOLC, founded in 1980 is Sri Lanka's pioneer specialized leasing company. Commercial Leasing, a prominent player in Sri Lanka’s leasing industry offers services in leasing, factoring, hire purchase and hiring.