Commercial Leasing & Finance PLC (COSE:CLC.N0000) agreed to acquire Sinhaputhra Finance PLC (COSE:SFL.N0000) for SLR 1.8 billion on December 10, 2022. The acquisition will be by way of amalgamation, Commercial Leasing & Finance PLC being the surviving company. The transaction is subject to regulatory and shareholders approval of of CLC and SFL. CBSL has approved the transaction on December 10, 2021. As per update on February 11, 2022, Commercial Leasing & Finance PLC has scheduled its shareholder's meeting on March 11, 2022. As of March 3, 2022, dealings in the shares of CLC, which shall not survive the amalgamation be suspended” fixed for March 25, 2022. COMMERCIAL LEASING & FINANCE PLC and Sinhaputhra Finance PLC conducted an extraordinary general meeting held on March 11, 2022 and shareholders of both duly approved the transaction. Commercial Leasing & Finance PLC shareholders also approve the amalgamation of Sinhaputhra with allotment of shares and waiver of pre-emptive rights. The transaction is expected to be effective by March 21, 2022.

Commercial Leasing & Finance PLC (COSE:CLC.N0000) completed the acquisition of Sinhaputhra Finance PLC (COSE:SFL.N0000) on March 21, 2022.