Assetline to buy Lisvin Investments as part of industry consolidation move
Friday, 27 June 2014 03:26
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Taking the first step towards a strong financial sector under the ongoing financial sector consolidation program initiated by the Central Bank of Sri Lanka, Assetline Leasing Company Ltd. has made arrangements to acquire Lisvin Investments Ltd. The agreement is due to be signed before 30 June.
Assetline Leasing Company expects to continually improve the quality of its services to all customers; that is the assurance given by the management. Further, the management of the company elaborated that the Central Bank of Sri Lanka conducted many discussions including one-to-one discussions with its Board of Directors by Central Bank Governor Ajith Nivard Cabraal to indoctrinate the financial institutions regarding the financial sector consolidation program. The company appreciated the cooperation and support extended by the Central Bank to overcome the challenges faced by the company during the process of finalising the acquisition.
Assetline has managed to make arrangements to acquire Lisvin Investments within a very short period, because the Chairman and the Board of Directors recognised the importance of compliance with the financial sector consolidation program and moving on with the execution of the strategic plan of the company.
The management of Assetline also expressed that the invaluable support and cooperation extended by the Managing Director of the Lisvin Investments helped to conclude the acquisition.
