EconomyNext – Thailand’s Group Lease buys 30-pct stake in Sri Lanka’s Commercial Credit in Rs10bn deal
ECONOMYNEXT – Thailand’s Group Lease Holdings bought a 30% stake in Sri Lanka’s Commercial Credit and Finance at Rs111 a share in a Rs10.6 billion deal, a stock exchange filing said.
Stock brokers Asia Securities said its client Group Lease Holdings bought 95,390.500 shares of Commercial Credit and Finance, a 29.99% stake.
Commercial Credit and Finance closed at Rs60.60 Thursday after trading in the Rs60.30-67 range.
The deal was the largest transaction on the Colombo bourse since March 2012.
Asia Securities handled the entire buy side and almost 80% of the sell side of the deal, giving it a leading market share for foreign trading, sources said.
(COLOMBO, Dec 08, 2016)