Peoples Leasing keen on controlling stake
in Seylan Merchant Leasing
Seylan
Merchant Bank PLC last week notified the Colombo Stock
Exchange that it was pursuing the possibility of divesting
a controlling stake in Seylan Merchant Leasing PLC (SML)
to Peoples Leasing Company Ltd.
In a stock exchange filing the company said a Non Disclosure
Agreement was signed on March 6, 2009 between Seylan
Merchant Leasing PLC and Peoples Leasing Company Ltd.
“Further information in this regard will be disseminated
to the Colombo Stock Exchange immediately upon the completion
of due diligence and obtaining regulatory approvals,”
the filing said.
Seylan Merchant Leasing PLC was incorporated on July
31, 2000 and granted a licence to act as a finance company
registered by the Monetary Board of the Central Bank
of Sri Lanka in terms of section 2 of the Finance Companies
Act No 78 of 1988 on March 1, 2007. The company is listed
on the second board of the Colombo Stock Exchange and
is also registered under the Finance Leasing Act No.
56 of 2000 with the Central Bank of Sri Lanka.
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