Smooth Ride

Sri Lanka's state minister of defence Ruwan Wijewardene (L) takes part in a press conference in Colombo on April 24, 2019. - A Sri Lankan security dragnet hunting those responsible for horrifying bombings that claimed more than 350 lives has scooped up a further 18 suspects, police said April 24, as pressure mounted on politicians to explain why no one acted on intelligence warnings. (Photo by ISHARA S. KODIKARA / AFP) (Photo credit should read ISHARA S. KODIKARA/AFP/Getty Images)

Businessmen Rajah Mahendra Nanayakkara and his company Ishara Traders has acquired controlling stake of Lanka Orix Leasing Co. (LOLC) at the close of a voluntary offer.rn

rnRegistrars to the offer SSP Corporate Services said Nanayakkara has bought up a further 23.35 percent from Powick Finance Ltd. at Rs. 52 per share. Ishara Traders now control a little over 48 percent of LOLC.rn

rnWith the voluntary offer closing on November 29, Nanayakkara has appointed his son, Ishara to the post of Vice Chairman to ensure the family plays a role to improve the already efficient operations, LOLC Chairman, C P de Silva said in a statement on Tuesday.rn

rnDe Silva described the takeover as lquote one of the smoothest takeovers of recent times
quote . rn

rnldblquote The calmness and cordiality with which it was effected is testimony to the power of dialogue. From the very first major purchase of LOLC shares made last year, Mr. Nanayakkara had discussed his intentions with me. He said he invested in LOLC as it had mos