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
President signs special gazette notification on declaring four forests near Wilpattu North Sanctuary as Conservation forests
-- [4 hours ago]
Three soldiers arrested over the Rathupaswala shooting incident
-- [5 hours ago]
President of the German Bundestag and parliamentary delegation to visit Sri Lanka next month
-- [5 hours ago]
Sri Lankan MP on hunger strike seeks bail citing daughter's mental health
-- [6 hours ago]
Jones Lang LaSalle cements Sri Lankan presence with opening of new WTC office
-- [7 hours ago]
Sri Lanka Tamil party welcomes adoption of UN resolution, urges the government to honor its commitments
-- [7 hours ago]
EU continues to develop and strengthen over 40-year long partnership with Sri Lanka - Ambassador
-- [7 hours ago]
Australia, World Bank launch program to enhance the trade and competitiveness potential of Sri Lanka's private sector
-- [8 hours ago]
Russia in discussions with Sri Lanka to deliver frigates, offers to set up helicopter maintenance center
-- [8 hours ago]
Arrested underworld figure 'Army Roshan' handed over to Army

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.