The foreign investor who offered to buy Bank of Ceylon’s 7.5 percent stake in Seylan Bank PLC for Rs. 1.32 billion, has withdrawn his claim. The investor had agreed to withdraw the offer on Monday, after discussions with Sri Lankan authorities, highly placed government sources said.
The Bank of Ceylon was the sixth largest shareholder in Seylan Bank while the Sri Lanka Insurance Corporation holds the largest stake of 15 percent.
Prime Minister Ranil Wickremesinghe, on Sunday ordered to immediately cancel the divestment of 13 million shares of Seylan Bank held by the state owned Bank of Ceylon.
The Prime Minister has also directed the Police Financial Crimes Investigation Division (FCID) to investigate into the transaction.
Government sources also said it was likely that the government would consider selling the BOC’s stake in Seylan Bank PLC to a local party.