Finance Sale

L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.

Mar 29, 2011 (LBO) - Sri Lanka's People's Merchant Bank, a listed company, said it will sell People's Merchant Finance Company Ltd, a 99 percent owned registered finance company, for 430 million rupees. The firm will be sold to Capital Alliance Holdings, an investment banking firm, if regulatory approval is given, PMB said in a stock exchange filing.
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Capital Alliance has units dealing in treasuries, stock brokering and commodity brokering.
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