Central Finance Company PLC said its amalgamation with Isuru Leasing Company Limited has been completed and as such the latter ceased to exist as a corporate entity with effect from February 28, 2017.
Central Finance signed a share sale and purchase agreement to buy a majority stake in Isuru Leasing as part of the Central Bank-initiated financial sector consolidation plan during the previous government.
Accordingly, in November 2014, Central Finance purchased a 90.1 percent stake in Isuru Leasing for a consideration of Rs.310.4 million. Isuru is a Kandy-based relatively small finance/leasing company.
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