HNB buys out Acuity Partners for Rs. 6.5 b from DFCC

Thursday, 23 January 2025 05:25 - - {{hitsCtrl.values.hits}}

HNB concluded the purchase of the remaining 50% stake in Acuity Partners Ltd., from DFCC Bank for Rs. 6.5 billion on Monday.

It said the move follows approval given by the Securities and Exchange Commission.

The 50% stake amounts to 75.5 million shares.

The deal was first announced in June 2024, followed by a price of Rs. 7 billion revealed in September, but in November the two parties changed plans, agreeing to pursue talks on revised terms and conditions in December.

Acuity Partners is a leading investment bank and was recognised as the most respected investment bank in Sri Lanka for 2023 by LMD, and was additionally recognised as one of the ‘Top 100 Brands in Sri Lanka’ by Brand Finance for the second successive year in 2023. Acuity offers a comprehensive suite of products and services that include corporate finance, equities, fixed income securities, and venture capital.