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Monday, October 1, 2012

Sri Lanka Softlogic to sell leasing arm to Laugfs

Oct 01, 2012 (LBO) - Softlogic Capital Plc, said it has struck a deal with Laugfs Holdings Limited to sell a 67 percent stake in Softlogic Credit Limited, a licensed leasing company that engages in microfinance.

The firm said in a stock exchange filing that Softlogic Credit will be solf for 103.6 million rupees, subject to regulatory approvals.

The firm had been on the block for some time.

In April Softlogic said it was planning to sell the company to Forbes Capital (Pvt) Ltd.

source - www.lbo.lk