LOLC Finance PLC (COSE:LOFC.N0000) agreed to acquire LOLC Development Finance PLC (COSE:NIFL.N0000) on August 24, 2022. Monetary board of Srilanka has approved the amalgamation. Upon completion, LOLC Finance PLC will the surviving company.

Transaction is subject to shareholders approval of both parties, and is expected to be effective on January 31, 2023.