LB Finance to merge with AM Finance

Tuesday, 2 June 2026 07:05 - - {{hitsCtrl.values.hits}}

LB Finance PLC has announced the move to merge with its subsidiary, Associated Motor Finance Company PLC (AMF).

The move is subject to the approval of shareholders of both AMF and LB Finance PLC, by way of Special Resolutions at Extraordinary General Meetings of the respective companies.

The approval of the Governing Board of the Central Bank of Sri Lanka (CBSL) has been received for the said amalgamation.

The shares of AMF will not be converted to shares of LB Finance PLC. Instead, the shareholders of AMF, except LB Finance PLC, will be paid a cash consideration of Rs. 55 for each share held by the said shareholders in AMF.

Upon the amalgamation, the shares held by LB Finance PLC in AMF will be cancelled in terms of Section 240(3)(a) of the Companies Act, No.7 of 2007.

LB Finance PLC holds a 73% stake in AMF following a voluntary offer made late last year at Rs. 50 per share.