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* Sri Lanka's Senkadagala Finance acquires Newest Capital in consolidation move
Thu, Aug 28, 2014, 07:04 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 28, Colombo: Senkadagala Finance Company in a stock market disclosure today announced that the company has entered into a Share Purchase Agreement with the Newest Capital.

Senkadagala Finance has acquired 100% percent of the fully paid issued share capital of Newest Capital on August 25th for a sum of Rs. 300 million.

Accordingly, with effect from August 25th Newest Capital has become a fully owned subsidiary company of Senkadagala Finance.

The transaction complies with the Master Plan of Consolidation of the Financial Sector 2014 initiated by the Central Bank and has their approval.

Senkadagala Finance PLC, incorporated in 1968, is a prominent, licensed deposit-taking institution. It currently has 61 branches and service centers across Sri Lanka.

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