Commercial Credit Limited has bought 98 percent of shares of the over 35 year old, Jet Wing Group owned Trade Finance & Investments PLC for nearly Rs. 1.5 billion, very reliable sources told adaderanabiz.lk
Nearly 83 percent of the controlling shares of this company have been sold to Commercial Credit at Rs. 28 each on a crossings agreement.
Meanwhile, Commercial Credit has bought the remaining shares from minor shareholder through the Colombo Stock Market today.
While Trade Finance & Investments PLC is engaged in businesses like foreign currency exchange, fixed deposits and pawning, hire purchasing, personal loans etc, apart from its main offices at Union Place in Colombo it also maintains branches at Jaffna, Kilinochchi, Batticaloa and Negombo.
