SL’s Commercial Credit takes 96.8% stake in TFI
View(s):Sri Lanka’s Commercial Credit and Finance Ltd on Monday acquired a 96.86 per cent stake in Trade Finance and Investments Ltd (TFI) at a price of Rs 28 per share, the Colombo Stock Exchange was informed.
The announcement said Commercial Credit will make a mandatory offer, under the Takeovers and Mergers Code, to buy the balance shares in due course. The Central Bank has approved the transaction.