LOLC acquires controlling stake in Cambodia’s Largest Micro Lender (PRASAC Microfinance)
Posted: Mon Mar 20, 2017 3:40 pm
LOLC International Private Limited, a wholly owned subsidiary of Lanka Orix Leasing Company PLC (LOLC), together with Hong Kong’s largest independent bank, The Bank of East Asia Limited (BEA), have acquired the majority stake in PRASAC Microfinance Institution Limited, Cambodia’s largest micro lender with an asset base of US $ 1.3 billion.
LOLC International Private Limited, a company based in Singapore last week bought 47.75 percent stake in PRASAC in a deal valued at US $ 186 million taking its total stake in the company up to 70 percent.
The sellers of the shares were Belgian Investment Company for Developing Countries SA (BIO), Dragon Capital Group Limited (Dragon Capital) and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO).