The Monetary Board of the Central Bank of Sri Lanka (CBSL) has approved the proposed acquisition by Prime Lands (Pvt) Ltd (PLPL) of the entire shareholding of Rs.16,996,650 (representing 75.54%) of the issued shares of Summit Finance held by Sarvodaya Development Finance Limited at Rs. 30 per share aggregating to a total consideration of Rs. 509,899,500.
This transaction is expected to be concluded shortly and once concluded, the Company will issue a detailed announcement in that regard the company said in a Colombo Stock Exchange filing. (SS)
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