Mar 07, Colombo: The Sri Lanka's Asian Alliance Insurance has sold a 38% stake of the company in two separate transactions to two foreign investors for a total of Rs. 1.82 billion.

Asian Alliance has sold 19% of its stake owned by Softlogic Capital PLC to Netherlands based FMO and Germany based (DEG) each.

In a stock market filing Softlogic Capital announced that it sold a total of 14.25 million shares of Asian Alliance Insurance at Rs. 128 per share to Netherlands based FMO and German based Deutsche Investitions which finances private sector development in developing countries (DEG).

Netherlands FMO and Germany's DEG, each acquired 7.125 million shares at a price of Rs. 912 million.