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
US$ 70 million French aid to Sri Lanka for water supply system improvement and energy saving project
-- [4 hours ago]
Sri Lankan President congratulates top winners of Grade Five Scholarship
-- [5 hours ago]
Public Utilities Commission of Sri Lanka announces new electricity rates
-- [6 hours ago]
Minister denies receiving resignation letter from Sri Lanka's High Commissioner to UK
-- [6 hours ago]
Sri Lanka to mark World Children's Day tomorrow
-- [7 hours ago]
Sri Lankan President orders the release of 76 Indian fishermen
-- [7 hours ago]
Sri Lanka Customs arrests two with illegal gold stock
-- [7 hours ago]
British diplomat in Sri Lanka describes surveillance on her during visit to East
-- [8 hours ago]
Sri Lanka Navy arrests 16 fishermen poaching in Sri Lankan waters
-- [9 hours ago]
Sri Lanka Central Bank approves 8 more proposals for consolidation of financial institutions
-- [9 hours ago]

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.