Softlogic Capital to leasing arm for Rs. 100 m

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.