Dhaka, May 18 -- Sri Lankan conglomerate Softlogic Group plans to enter Bangladesh's services sector with the acquisition of a life-insurance company and a hospital to begin with.

Chairman of the group Ashok Pathirage told The Financial Express on Monday about initial progress they have made.

"We have agreed to buy one of the life-insurance companies in Bangladesh. All formalities have almost been completed to take over the insurance company," says.

He wouldn't disclose the name of the insurance company now as "it is price-sensitive information (PSI). But you will know about it in two months' time."

The Lankan business group is also seeking to provide Bangladeshis global-standard healthcare services through its healthcare concern -- A...