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* Sri Lanka's Arpico Finance refutes reports of merging with Richard Peiris
Sat, Mar 15, 2014, 12:06 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 14, Colombo: Arpico Finance, a finance company listed in the Colombo Stock Exchange refuted reports that said the company is merging with its old parent company Richard Peiris Group.

Ina stock market disclosure, the finance company said the caption "Arpico Finance to merge with Richard Peiris" of media reports is inaccurate and is a misquotation.

Arpico Finance said in keeping with the initiative of Central Bank of Sri Lanka on the consolidation of the NBFI (Non-Banking Financial Institutions) sector, the company is currently engaging in discussions with several prospective parties.

"At this point of time we wish to confirm that these discussions area at a very preliminary stage , and we have not reached any finality," the company said.

Arpico said it will inform the shareholders and the general public and make the necessary disclosure at the appropriate time.

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