Courtship Warms Up

Conglomerate John Keells is talking to potential partners to join their bid for an equity stake and management of Peoples Bank.
John Keells Holdings Chairman Vivendra Lintotawela told LBR they are talking to a few international players about joining them as a technical partner.rn

rnThe foreign partner could also take an equity stake according to the JKH Chairman.rn

rnThe government has stated that private sector money will be sought to re-capitalise the Peoples Bank.rn

rnCommercial Bank which is also interested in bidding for the state banking giant will go alone according to a senior official of that bank.rn

rnHowever, the bank also has the option of putting in a joint bid with its strategic partner the DFCC Bank in which it holds a significant stake.rn

rnThe official however added that there is no final decision on such a partnership.rn

rnDFCC Bank officials were not available for comment.rn

rnThese moves by the countrys top conglomerate and most profitable local bank come on the back o