LOLC Finance PLC (COSE:LOFC.N0000) agreed to acquire Commercial Leasing & Finance PLC from LOLC Holdings PLC (COSE:LOLC.N0000) and other shareholders for approximately LKR 200 billion on January 5, 2022. Following the transaction, Commercial Leasing & Finance will consolidate/merge with LOLC Finance. The transaction is subject to receiving the applicable approvals and in compliance with relevant laws and regulations where the remaining amalgamated entity will be LOFC.

As of January 24, 2022, the transaction has been approved by the Central Bank of Sri Lanka on January 21, 2022.