Softlogic Capital PLC (COSE:SCAP.N0000) made an offer to acquire 50.33% stake in Abans Finance PLC (COSE:AFSL.N0000) for LKR 1 billion on September 29, 2020. Under the terms of the transaction, Softlogic will acquire the shares of Abans Finance at LKR 30.1 each. In a related transaction, Softlogic Capital PLC (COSE:SCAP.N0000) agreed to acquire 49.67% stake in Abans Finance PLC (COSE : AFSL.N0000) from Abans Private Limited for approximately LKR 1 billion on September 29, 2020.

Upon completion, Softlogic Capital PLC plans to initiate a process for the amalgamation of Abans Finance PLC into Softlogic Finance PLC with Softlogic Finance being the surviving entity. Shareholders can opt to accept 11 shares in Softlogic Finance PLC for every 6 shares held at Abans Finance PLC on the subsequent amalgamation. As of August 6, 2021, Softlogic Capital PLC cancelled the acquisition of 49% stake in Abans Finance PLC from Abans Private Limited, announced at the time of this acquisition.