Sri Lankaâ€™s LOLC buys control of Cambodian microfinance firm
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)