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
PM calls for the upgrade of quality of higher education in universities
-- [3 hours ago]
Sri Lanka's third quarter GDP expands at 3.3 percent in 2017
-- [4 hours ago]
Three Sri Lankan fishing trawlers released from Indian custody
-- [4 hours ago]
Malaysian PM to begin visit to Sri Lanka tomorrow
-- [4 hours ago]
European Union welcomes Sri Lanka acceding to Anti-Personnel Mine Ban Treaty
ADB grants Sri Lanka US$ 270 Mn to implement two development projects
Prime Minister visits Thomas De La Rue Lanka currency printing facility at the Biyagama EPZ
UN rights experts urge Sri Lanka to urgently implement reforms to end arbitrary detention
Court extends interim injunction on taking legal action against Gotabhaya Rajapaksa till Jan 25
Sri Lanka Central Bank not to accept willfully mutilated, altered or defaced currency notes from 31 Dec

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.