Sri Lanka DFCC looks for investor after Acuity divestment deal fails
- 5opn1
- November 3, 2024
- Banking and Financial
- Sri Lanka DFCC
- 0 Comments
Sri Lanka’s DFCC Bank Plc is looking for an investor to sell its 50 percent in Acuity Partners after its deal for the sale did not go through as announced earlier.
In September, the DFCC announced it would sell its 50 percent stake in Acuity Partners (Pvt) Ltd to Hatton National Bank Plc for 7 billion rupees.
Acuity Partners (Pvt) Ltd is a joint venture between DFCC Bank and Hatton National Bank.
“Further to the announcement dated 2 September 2024…, DFCC now wishes to announce that it is no longer proceeding with the transaction,” DFCC said in a disclosure to the Colombo Stock Exchange on Friday (01).
“Accordingly, Acuity Partners (Pvt) Ltd will continue to operate as a joint venture of DFCC Bank PLC and Hatton National Bank PLC.”
“DFCC remains open for negotiations and will continue to actively seek avenues to divest their holding.”
