Tue, 14 May 2024 Today's Paper

Asian Alliance to sell stake to two foreign buyers

20 December 2012 07:10 am - 0     - {{hitsCtrl.values.hits}}

A A A

Germany’s DEG and Dutch state-owned development bank FMO will be purchasing a 38 percent stake in Asian Alliance Insurance PLC (AAI) in which Softlogic group has over 95 percent.

The Rs. 1.8 billion transaction at a price of Rs. 128 per share, will take place via the Colombo Stock Exchange and is expected to be completed by early January 2013 with both parties holding an equal 19% stake.

Subsequent to the completion of the transaction, both FMO and DEG will also nominate a director to the Board of Directors of AAI.

The transaction and appointment of directors will only occur subsequent to regulatory approval from the Insurance Board of Sri Lanka.

AAI is composite insurer engaged in both life and general insurance and is a company under the Softlogic Group. (CF)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka