Canara Bank has informed that the Board of Directors has permitted the Bank to acquire differential shares so as to hold 51% stake in Can Fin Homes Ltd in order to convert the sponsored entity into a subsidiary, through the process of open-offer. Necessary permissions have been obtained from RBI and Ministry of Finance.
It has now been decided to release the public Announcement on August 27, 2007 in connection with the acquisition.
M/s. Ind Bank Merchant Banking Services Ltd, Chennai are the Merchant Banker to the open-offer scheme.
Source : www.indian-commodity.com
Monday, August 27, 2007
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