Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka's Richard Peiris Arpico Finance buys 51% stake of Chilaw Finance
Thu, Sep 4, 2014, 08:02 am SL Time, ColomboPage News Desk, Sri Lanka.

Sept 04, Colombo: Richard Peiris Arpico Finance Ltd, a subsidiary of Richard Peiris company has entered into a Memorandum of Understanding with major shareholders of Chilaw Finance PLC (CF) on August 15 to purchase 51% of CF shares.

The Purchase of 51% of CF stake has been agreed in order to facilitate the financial sector consolidation process initiated by the Central Bank of Sri Lanka.

Currently Richard Peiris Arpico Finance Ltd is conducting a Legal and Financial due diligence on Chilaw Finance according to the MOU, Richard Peiris Group announced in a stock market disclosure.

The purchase price of the CF shares will be announced after the due diligence.

The Central Bank of Sri Lanka has given permission to proceed with the proposed transaction.

ColomboPage - Recent 10 Stories
Sri Lanka President's adviser leaves for Geneva to meet UN Human Rights Commissioner
-- [1 hour and 8 minutes ago]
Expansion of Sri Lanka's international airport with Japanese funds to continue
-- [2 hours ago]
Sri Lankan government launches two housing projects to provide houses for 50,000 families
-- [2 hours ago]
In Pictures: President and Prime Minister meet people of Polonnaruwa
-- [3 hours ago]
Sri Lanka’s state media and a private TV channel under probe
Sri Lanka nationalist party calls authorities to reveal the MP allegedly connected to a drug ring
Sri Lanka Appeal Court to take up petition against former LTTE leader on Tuesday
Sri Lanka's Foreign Minister to leave for Brussels tomorrow to negotiate EU fishing ban
UN High Commissioner for Human Rights notes probe on Sri Lanka in annual report
Top European trade delegation in Sri Lanka to initiate US$ 8 million project

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.