AMF to cater to a wider clientele with a diverse service portfolio upon merger with Arpico Finance Company
February, 1, 2021
Two of Sri Lanka’s oldest finance companies, Associated Motor Finance Company PLC (AMF) and Arpico Finance Company PLC (AFC) will be forged ahead to cater to Sri Lanka’s growing financial services industry needs upon the merger of the two entities. This amalgamation of two entities will be a symbol of Sri Lanka’s financial industry strength despite a challenging environment in current global financial landscape that resembles prudent financial management skills of a family business corporation with proper governance structure and responsibility towards stakeholders.
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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.