LB Finance PLC (COSE:LFIN.N0000) entered into memorandum of understanding to acquire a 64.62% stake in Multi Finance PLC (COSE:MFL.N0000) from Fairway Holdings (Pvt) Ltd for approximately LKR 400 million on November 17, 2021. LB Finance PLC agreed to acquire 64.62% stake in Multi Finance PLC from Fairway Holdings (Pvt) Ltd for approximately LKR 400 million on December 10, 2021. Under the terms LB Finance PLC will acquire for LKR 9.72 per share. Central Bank of Sri Lanka has given in principal approval for the transaction.

LB Finance PLC (COSE:LFIN.N0000) completed the acquisition of a 64.62% stake in Multi Finance PLC (COSE:MFL.N0000) from Fairway Holdings (Pvt) Ltd on March 16, 2022. LB Finance acquired 28.78735 shares at LKR 9.7 per share and 12.322725 shares at LKR 9.8 per share.