Fast-growing Softlogic Holdings Ltd and its subsidiary, Softlogic Capital Ltd, this week entered into a Share Purchase Agreement with Asia Capital PLC to acquire 53.16% of its shares held by Asia Capital PLC and its subsidiaries, and 20.36% held by Fast Gain International Ltd.
The shares totalling 27.5 million and representing approximately 73.53% of the entire issued share capital of Asian Alliance Insurance has been bought at Rs 3.3 billion at Rs 120 per share, the company said in a statement.
“Pursuant to the Share Purchase Agreement executed by the shareholders of Asian Alliance Insurance PLC: 51.0% of issued ordinary shares of Asian Alliance will be acquired by Softlogic Capital Limited at a consideration of Rs 2.29 billion while the remaining 22.53% of Asian Alliance will be acquired by Softlogic Holdings Ltd for Rs 1.0 billion,” the statement said. |
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