Softlogic Holdings PLC, which bought into Capital Reach Holdings Limited (CRHL) on Friday from Asia Capital (ACap), is slated to increase its stake on Monday, sources close to Softlogic said. “They are looking at about a further 15% in the company,” a source said, adding that they bought 40% from ACap’s 56.25% in this deal.
ACap announced on Friday to the Colombo Stock Exchange (CSE) that Softlogic and Rosewood Ltd, a fully owned subsidiary of the Hirdramani Group bought into CRHL. Rosewood now has 16% in CRHL.
ACap’s announcement to the CSE also said that ACap will not be buying CRHL’s 67.03% in subsidiary, Capital Reach Credit Ltd as planned earlier.