Union Bank explores strategic options for subsidiary, UB Finance

Colombo-Stock-Exchange

Sep 03, 2019 (LBO) – Sri Lanka’s Union Bank said that it was in discussions with identified investor/s to explore strategic options for its subsidiary, UB Finance Company Limited (UBF).

“We wish to inform you that the bank has engaged itself in discussions with identified investor/s to explore strategic options for its subsidiary,” it said in a stock exchange filing.

The board of directors of the bank has decided to explore other strategic options for UBF, including, but not limited to divestment, merger, restructuring, spin-out, the statement added.