Thai motorcycle lessor Group Lease PCL has acquired a 30 percent stake in Sri Lanka’s Commercial Credit and Finance PLC (CCF) for $70 million, the company said , in its first major expansion outside Southeast Asia.
The acquisition comes a month after it bought a 71.9 percent stake in BG Microfinance Myanmar from the Sri Lankan finance firm to expand into Myanmar, adding to existing operations in the Southeast Asian countries of Cambodia, Laos and Indonesia.
With assets of $450 million, Group Lease is one of Thailand’s biggest three motorcycle lessors with a market share of 10 percent to 11 percent.
(Yahoo news)
The acquisition comes a month after it bought a 71.9 percent stake in BG Microfinance Myanmar from the Sri Lankan finance firm to expand into Myanmar, adding to existing operations in the Southeast Asian countries of Cambodia, Laos and Indonesia.
With assets of $450 million, Group Lease is one of Thailand’s biggest three motorcycle lessors with a market share of 10 percent to 11 percent.
(Yahoo news)
www.dailynews.lk
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