Sri Lanka’s Asian Alliance stock to be bought by DEG, FMO

Dec 21, 2012 (LBO) – Germany’s DEG, a part of the KfW group that invests in private firms in developing countries and FMO, a Dutch development financier are buying stock in Sri Lanka’s Asian Alliance Insurance in a 1.8 billion rupee deal. . Sri Lanka’s Softlogic group said in a stock exchange filing that FMO will pay 7.78 million rupees to Softlogic Capital Plc to buy 60,796 shares and 904.2 million rupees to Softlogic Holdings Plc to buy 7.06 million shares in Asian Alliance.

DEG will pay 912 million rupees to buy 7.1 million shares from Softlogic Capital Plc.

The two agencies will pay 1.82 billion rupees at 128 per share. Softlogic said the sale was conditional, without elaborating.