Janashakthi Insurance PLC a sale and purchase agreement with Allianze SE, a company incorporated in Germany and the European Union, bearing registration number HRB 164232 and with its registered office at Königinstr. 28, 80802, Munich, Germany for the sale of the entirety of the Janashakthi Insurance PLC’s shares in its wholly owned subsidiary Janashakthi General Insurance Limited. The expected consideration for this transaction is SL Rupees Sixteen Billion Four Hundred Million (16,400,000,000).
The transaction is subject to several conditions to be satisfied by the relevant parties. Janashakthi Insurance PLC also states that it has agreed in principle to implement a share repurchase from its shareholders.
Sources : Ada Derana