The third largest investor of Softlogic Life Insurance PLC, State Street Munich C/O Ssbt-Deg-Deutsche Investitions-Und Entwicklungsgesellschaft MBH, has sold its 19% stake to Milford Ceylon Pvt Ltd, in a Rs. 2.6 billion trade.

During this transaction, 71,250,000 were traded at Rs.37.00 each, a market disclosure said.

However, along with the transaction, there have been a change in the board of directors of the company.

Accordingly, Rudiger Will, who served as the Independent Non-Executive Director of Softlogic Life Insurance PLC resigned from the board of directors and Visvanathamoorthy Govindasamy was appointed to the very post.

Mr. V. Govindasamy is the Group Managing Director of Sunshine Holdings PLC.