Sri Lanka’s LOFC acquired a 100 percent shares of  LOLC Micro Credit

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Feb 01, 2018 (LBO) – LOLC Finance PLC (LOFC) said the company has acquired a 100 percent shares of  LOLC Micro Credit for 12.3 billion rupees.

The shares were brought at 156.18 a share, the Company said in a stock exchange filing.

LOFC Finance acquired 80 percent of LOLC Micro Credit from the parent company for 9.8 billion rupees while the balance 20 percent was purchased from FMO for 2.5 billion rupees.

LOFC and LOLC Micro Credit are subsidiaries of listed Lanka Orix Leasing Company PLC (LOLC).