Investment Chat

Sri Lanka's Prime Minister Ranil Wickremesinghe arrives with flowers to receive blessings at the Gangaramaya Buddhist Temple, Colombo, Sri Lanka on Wednesday 4 April 2018. On wednesday (4), Wickremesinghe survived a no-confidence motion in the Sri Lankan parliament with a 46 vote majority after a 12-hour debate with 122 MPs voted in his support while 76 MPs voting to remove the prime minister. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images)

Mar 05, 2014 (LBO) – Sri Lanka’s Union Bank is talks with a foreign investor, TGP Asia VI L.P, for a possible sale of shares, the firm said in a stock exchange filing. The bank said it had received a “non-binding indicative term sheet governing further negotiations” over a share sale from TGP Asia.

Any final agreement depends on conditions including, a satisfactory due diligence and gaining approvals, the bank said.