Ceylon FT: In keeping with the financial sector consolidation programme of the Central Bank a Rs 500 million acquisition was announced yesterday (21).
Deshodaya Development Finance Limited has entered in to a memorandum of understanding for the purchase the majority shareholding of George Steuart Finance PLC.
"The Principal Shareholders of George Steuart Finance PLC, George Steuart & Company Limited and Capital Trust Holdings Limited will divest their shareholding for a company valuation of Rs 500 million for this transaction, which also has been endorsed by the Central Bank of Sri Lanka," George Steuart said in a statement.
Deshodaya Development Finance Limited, a micro finance provider, intends to expand its outreach and diversify its existing product portfolio by amalgamating the businesses whilst keeping in line with regulatory asset and capital enhancement requirements. www.ceylontoday.lk
Deshodaya Development Finance Limited has entered in to a memorandum of understanding for the purchase the majority shareholding of George Steuart Finance PLC.
"The Principal Shareholders of George Steuart Finance PLC, George Steuart & Company Limited and Capital Trust Holdings Limited will divest their shareholding for a company valuation of Rs 500 million for this transaction, which also has been endorsed by the Central Bank of Sri Lanka," George Steuart said in a statement.
Deshodaya Development Finance Limited, a micro finance provider, intends to expand its outreach and diversify its existing product portfolio by amalgamating the businesses whilst keeping in line with regulatory asset and capital enhancement requirements. www.ceylontoday.lk
No comments:
Post a Comment