Senkadagala Finance acquires Sri Lanka’s Candor Asset Management
ECONOMYNEXT- Candor Asset Management, a Sri Lankan unit trust and private portfolio management firm, was aquired by Senkadagala Finance Plc on Wednesday, a filing at the Colombo Stock Exchange said.
In the announcement to Candor Opportunities Fund unit holders, the firm said there will be no changes to the investment strategies.
Officials said the deal was worth 26.7 million rupees.
Candor Asset Management was previously owned by Eagle Proprietary Investment Limited, a part of Dubai-based Eagle Investments.
Eagle Investments acquired Candor, previously known as Heraymila Capital (Pvt) Limited, in 2013, along with its sister firm Candor Equities Limited.
Senkadagala Finance is a non-bank financial institution founded in Kandy 52 years ago. (Colombo/Mar04/2020)