Bangla Buy

Dec 18, 2008 (LBO) – Sri Lanka’s listed NDB Bank is taking control of Capital Markets Services Ltd, a licensed merchant bank in Bangladesh, the bank said.

The investment was subject to unspecified conditions, NDB said. The bank had received approval from Sri Lanka’s central bank and finance ministry. NDB said in a stock exchange filing it had reached a joint venture deal with Capital Market Services and its existing shareholders where the bank would gain control of the Bangladeshi firm.