COMMERCIAL CREDIT AND FINANCE
GROUP LEASE PUBLIC COMPANY ACQUISITION
In what has been described as a historic financial transaction, Group Lease Public Company (GLPCL), a digital finance company listed on the Stock Exchange of Thailand (SET), acquired a 29.99 percent stake in Commercial Credit & Finance (CCF) for US$ 70 million on the Colombo Stock Exchange (CSE). The transaction valued at over Rs. 10.56 billion is one of the highest recorded on the CSE. In the same exercise, BG Investments and related companies along with CCF sold a 100 percent stake in a microfinance subsidiary in Myanmar – BG Microfinance Myanmar (BGMM) – for a consideration of US$ 8 million to GLPCL.