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.