HNB to pay Rs. 7 b to DFCC for remaining 50% Acuity stake

Hatton National Bank (HNB) is to pay Rs. 7 billion to DFCC Bank in its move to acquire 50% stake thereby control of Acuity Partners Ltd. DFCC Board has granted its approval for the sale subject to obtaining relevant statutory and regulatory approvals and the two parties entering into a share sale and purchase agreement.

The transaction is expected to be concluded on or before 31 October 2024.The deal was first announced in June this year.