Cargills Bank Ltd sold its controlling stake in the Colombo Trust Finance, a finance company, on Tuesday just before trading closed at 2.30 pm.
It was traded at Rs. 28.70 per share and speculation was rife that Dialog Axiata-connected parties had bought the company. This company was previously controlled by Capital Trust Group and was called Capital Alliance Finance PLC. Then in 2015 Cargills Bank took over control of Capital Alliance Finance PLC under the financial sector consolidation plan set in motion by the earlier regime. The bank at the time bought a 73.4 per cent stake for over Rs.400 million. (DEC)
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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