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
'India - Sri Lanka relations now on a sound footing'
-- [13 minutes ago]
Sri Lanka President urges legislators to end divisive politics and strengthen national government
-- [1 hour and 1 minutes ago]
Leader of the House and Chief Government Whip Appointed
-- [6 hours ago]
Sri Lanka Tourism to focus on an Indian niche market- IAS officers
-- [7 hours ago]
Sri Lanka Navy arrests 16 Tamil Nadu fishermen
-- [7 hours ago]
Karu Jayasuriya unanimously appointed as the Speaker of Sri Lanka's 8th parliament
-- [8 hours ago]
Sri Lanka Freedom Party to take disciplinary action against four elected MPs
-- [8 hours ago]
Prime Minister requests a report on destruction of last season's paddy stocks
U.S. Embassy building eight Schools in Sri Lanka's Eastern Province for $3.3 million
Australia supports Sri Lankan Government's democratic reform and good governance agenda

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.