Peoples Leasing to acquire Seylan Merchant Leasing

Seylan Merchant Bank PLC on Friday notified the Colombo Stock Exchange that it is pursuing the possibility of divesting a controlling stake in Seylan Merchant Leasing PLC (SML) to Peoples Leasing Company Ltd.

In a stock exchange filing the company said that a Non Disclosure Agreement was signed on March 6 between Seylan Merchant Leasing PLC and Peoples Leasing Company Ltd. "Further information in this regard will be disseminated to the Colombo Stock Exchange immediately upon the completion of due diligence and obtaining regulatory approvals," the filing said.