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Commercial Credit (COCR) bought nearly 96.89% of Trade Finance & Investments at Rs.28.00 per share today to over Rs.1.5 billion.
As at 31st March 2014 the company's value was only Rs. 247,001,000 represented by 56,800,400 ordinary voting shares.
According to insiders though COCR bought the the company for over Rs.1.1 billion nearly Rs.500 million from the deal will be paid back to COCR Management by family members of Cooray Family and Ajith Fernando Cartel in a 'Kick Back' deal.
Insiders from Capital Alliance group notes that 'Deal' was done reflecting an artificial price appreciation value whilst some investors got caught up buying Commercial Credit at Rs.30 per share.
The shares of TFIL were mainly held by top hotel family from Negombo area the founders of Jetwing group who has a daughter married to Ajith Fernando of Capital Alliance group and several quantities of TFIL were also held by top stock market smart manipulating High Networth's who has pioneered companies such as AMW group in Sri Lanka...
Six months ago both TFIL & CALF was on sale for totalling to only Rs.1 billion whilst nobody bid for it finally COCR used part of the money got from US private equity firm to fund the acquisition.
As at 31st March 2014 the company's value was only Rs. 247,001,000 represented by 56,800,400 ordinary voting shares.
According to insiders though COCR bought the the company for over Rs.1.1 billion nearly Rs.500 million from the deal will be paid back to COCR Management by family members of Cooray Family and Ajith Fernando Cartel in a 'Kick Back' deal.
Insiders from Capital Alliance group notes that 'Deal' was done reflecting an artificial price appreciation value whilst some investors got caught up buying Commercial Credit at Rs.30 per share.
The shares of TFIL were mainly held by top hotel family from Negombo area the founders of Jetwing group who has a daughter married to Ajith Fernando of Capital Alliance group and several quantities of TFIL were also held by top stock market smart manipulating High Networth's who has pioneered companies such as AMW group in Sri Lanka...
Six months ago both TFIL & CALF was on sale for totalling to only Rs.1 billion whilst nobody bid for it finally COCR used part of the money got from US private equity firm to fund the acquisition.
