The Union Bank PLC is involved in discussions with investors towards strategic investments in its subsidiary, UB Finance Co Ltd (UBF), a finance company.
The bank said in a statement to the Colombo Stock Exchange on Monday that “it has engaged itself in discussions with identified investor/s to explore options for its subsidiary”.
However it said it has not received a definitive offer from these investors and finalisation of any such offer will be subject to all necessary approvals and consent. “We also wish to inform that notwithstanding the ongoing discussions with the said identified investors, 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 etc,” the statement said. - ENDS -
All Ceylon Makkal Congress MP Ali Sabri Raheem had been arrested by Kalpitiya police after he surrendered to the police today morning.
An interim order prohibiting Deshabandu Tennakoon from carrying out his duties as Inspector General of Police (IGP) has been issued by the Supreme Court.
The Presidential election will be held on September 21, the Commission of Elections has decided.
The former leader of the New Sama Samaja Party (NSSP) and the New Left Front and well-known figure in left-wing politics in Sri Lanka, Dr. Wickramabahu Karunaratne, passed away at the age of 81.
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