DFCC Board has granted its approval for the sale subject to obtaining relevant statutory and regulatory approvals and the two parties entering into a share sale and purchase agreement.

The transaction is expected to be concluded on or before 31 October 2024.The deal was first announced in June this year

With the sale, DFCC Bank would be divesting its entire shareholding (50% of the shares) in Acuity Partners to Hatton National Bank.

“In the event the above transaction is successfully completed, the Bank will be the sole shareholder of Acuity Partners (Pvt) Ltd and will carry on its investment banking business through that company,” HNB said