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By Hiran H.Senewiratne
Two leading CSE listed companies, Associated Motor Finance Company Plc and Arpico Finance will go for a merger soon. The merger deal is expected to be completed by 31st March 2021. The Central Bank of Sri Lanka has given the approval to go ahead with the programme, stock market analysts said.
With the merger the surviving company would be Associated Motor Finance company. At present 444897 shares of Arpico Finance with the public, which accounts 5.98 percent of the total issued shares by the company. Once the merger is completed Arpico Finance company shareholders will receive 76 shares of Associated Motor Finance Company for every 100 shares of Arpico Finance, stock market sources said.