Sri Lanka’s Guardian Capital Partners PLC and US-based Small Enterprises Assistance Funds have decided to terminate their Joint Venture Agreement seeking to establish a company to manage and invest in private equity projects in Sri Lanka.

Guardian Capital Partners PLC (WAPO) had entered into a Joint Venture Agreement with Small Enterprises Assistance Funds (SEAF), a corporation registered in the U.S.A, on 28th April 2016 in order to form a JV Company in an overseas jurisdiction to carry on the fund management business.

Guardian Capital Partners today (14) informed the Colombo Stock Exchange regarding the termination of the agreement.

“WAPO and SEAF have given due consideration to the current economic conditions and unfavorable investment environment, have mutually terminated the JV Agreement on 14th August 2018, on amicable basis,” a filing said.

Accordingly both parties are released from any liabilities or obligations arising from the JV Agreement.