Sri Lanka's Sinhaputhra Finance merges with Commercial Leasing

Sri Lanka-based Sinhaputhra Finance PLC merged with Commercial Leasing & Finance PLC, effective March 21.

Commercial Leasing is the surviving entity, according to a March 21 release.

The merger was a precondition for Commercial Leasing's planned amalgamation with LOLC Finance PLC, which is set to take effect March 31.

As of March 21, US$1 was equivalent to 280.00 Sri Lankan rupees.