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Sri Lanka’s LOLC buys control of Cambodian microfinance firm

Mar 17, 2017 16:23 PM GMT+0530 | 0 Comment(s)

ECONOMYNEXT - Sri Lanka’s LOLC Group has acquired control of Cambodia’s Prasac Microfinance Institution Ltd., raising its stake to 70% from 22.5% for US$186 million, through its Singapore subsidiary, LOLC International Private Ltd.

A stock exchanging filing said the acquisition of the majority stake was made with The Bank of East Asia Ltd.

BEA will hold 21% and 9% will be held by P S Co. Ltd (Prasac Staff Company Ltd).

The sellers from Prasac were Belgian Investment Company for Developing Countries SA, Dragon Capital Group Ltd. and the Nederlandse Financierings-Maatschappij voor Ontwikkellngslanden N.V. (FMO).
(COLOMBO, March 17, 2017)

 


 

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