Muthoot Fince acquires Sri Lankan company

Mumbai, December 31: Muthoot Fince Ltd (MFL) has acquired 51 percent equity shares of Colombo–based Asia Asset Fince PLC (AAF), the company told the tiol Stock Exchange (NSE) on Wednesday. “Pursuant to open offer given by MFL for acquisition of shares of AAF in Colombo Stock Exchange, the company has acquired 56,059,084 shares at 1.60 LKR,” MFL chief general mager K.R. Bijimon informed the NSE. MFL said it had received the necessary approvals from Colombo Stock Exchange and Securities Exchange Commission in Sri Lanka for transferring the shares acquired via open offer to MFL’s account. India’s largest gold fincing company, MFL now holds 428,011,711 shares in AAF representing 51 percent of total equity shares. (IANS)