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 Supreme Court justice recuses from former minister's FR petition hearing
-- [4 hours ago]
Sri Lankan authorities commence appointing members to the Constitutional Council
-- [5 hours ago]
Director General of Sri Lanka Customs resigns
-- [5 hours ago]
Sri Lanka's former minister further remanded
-- [6 hours ago]
Sri Lanka opposition MPs complain to IMF against Central Bank Governor
-- [6 hours ago]
Energy conservation program introduced to Sri Lanka Army
-- [7 hours ago]
Protecting forests and environment among top priorities for Sri Lankan government - President
-- [8 hours ago]
Sri Lanka police investigate death of a U.S. pilot
-- [8 hours ago]
Sri Lankan visa applicant for UK arrested for fraud
Palai police team in Jaffna comes under attack from residents after suspect was shot

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.