LB completes acquisition of 73.11% AMF stake for Rs. 4.1 b

Wednesday, 26 November 2025 00:23 - - {{hitsCtrl.values.hits}}

LB Finance PLC yesterday said it has completed the acquisition of Associated Motor Finance Company PLC, increasing its stake to 73.11% after the mandatory offer with the deal worth over Rs. 4.1 billion.

LB Finance now holds over 82.8 million AMF shares.

It had made a Rs. 5.6 billion mandatory offer for a 100% stake in AMF to acquire all 113,327,268 ordinary voting shares at Rs. 50 per share.

As at end September 2025, AMF had reported a net asset value per share at Rs.39.91 with a public float of 31.1%.

The top shareholders as at that date were John Nalatha Dayawansa, who held 45,273,864 shares (39.95%), and Imperial Import and Export Company Ltd., which held 29,067,696 shares (25.65%), and had agreed to accept LB Finance’s the offer in full.