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Tuesday, 3 April 2012 01:00 - - {{hitsCtrl.values.hits}}
Softlogic Capital Ltd., is to sell 67% stake in its leasing arm for Rs. 100 million to Forbes Capital Ltd.
The company has entered in to a share sale and purchase agreement last week to this effect.
The sale will go through following Sofltogic Credit obtaining necessary regulatory and shareholder approvals.
In the first half of 2011/12 financial year the leasing business produced a revenue of Rs. 169 million whilst its net profit was Rs. 14 million.
Softlogic Capital is a subsidiary of Softlogic Holdings, which also has Softlogic Finance Plc as part of the financial services offering in addition to Asian Alliance Insurance.
