LOLC investments exits BPPL Holdings

LOLC Investments Ltd. yesterday sold its entire stake in the brush maker BPPL Holdings in a Rs.1.28 billion deal.

The shares were bought by the spouse of BPPL Holdings’ CEO/Managing Director Anush Amarasinghe and the sister of LOLC Group Deputy Chairman Ishara Nanayakkara.

The shares were bought at Rs.16 per share. As at September 30, 2020, LOLC Investments held 80.5 million BPPL shares, which constituted to 26.25 percent of the issued shares of the company.

BBPL Holdings’ parent, Infinity Capital (Pvt) Ltd., owned by the Amarasinghe family, controls 50.31 percent of the company.