Monday, August 27, 2007

Canara Bank - Acquisition Of Shares Of Can Fin Homes Ltd (CFHL) - Through The Process Of Open-Offer

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

No comments: