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Japan’s Orix sells Sri Lanka LOLC stake to Ishara

ECONOMYNEXT – Japan’s Orix group has exited it stake in Sri Lanka’s LOLC rupees, with a firm controlled by its Deputy Chairman Ishara Nayakkara taking the stake for 12.8 billion rupees, market sources said.

LOLC Holdings a privately held firm bought out Orix ending a 30-year relationship.

LOLC at the time was Sri Lanka’s pioneer leasing company.

Orix of Japan had been a passive investor for many years. It had exited with a big capital gain.

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