Profit

Canara Bank Sells 13.45% Stake In Can Fin Homes

 Share
EMAIL
PRINT
COMMENTS
Canara Bank Sells 13.45% Stake In Can Fin Homes

State-run lender Canara Bank Ltd has sold a 13.45 per cent stake in Housing finance arm Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for Rs 754 crore, it said on Friday.

The divestment is seen as a part of the monetization process of non-core assets of Canara Bank, the company said in a statement to the exchanges.

Caladium Investment, which is an affilate of Singapore's sovereign wealth fund GIC, will buy about 3.6 million Can Fin Homes' shares at Rs 2,105 each, a premium of about 8.4 per cent, as of Thursday's close.

As of Dec. 31, 2016, Canara Bank owned 43.45 per cent stake in Can Fin Homes, according to data on the BSE website.

© Thomson Reuters 2017


(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)


Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top