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Last Updated : Jan 14, 2020 05:23 PM IST | Source: Moneycontrol.com

Canara Bank calls off stake sale in Can Fin Homes

The divestment process was under progress since September last year.

 
 
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Public sector lender Canara Bank on January 14 said it has decided to call-off the divestment process of its entire stake in Can Fin Homes.

The divestment process was under progress since September last year.

The decision to invite bids comes ahead of amalgamation of Syndicate Bank with Canara Bank.

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In September 2019, the lender invited bids to sell its entire 30 percent stake in its housing finance subsidiary Can Fin.

It had invited bids through merchant bankers for sale of 3,99,30,365 equity shares of the face value of Rs 2 each, constituting 29.99 percent.

In 2018 also, Canara Bank had called off move to divest entire shareholding in housing finance subsidiary Can Fin Homes after receiving lower than expected price quotation.

(With inputs from PTI)

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First Published on Jan 14, 2020 05:23 pm
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