Central Bank of India to exit housing finance business; to sell JV stake for Rs 160 crore
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Central Bank of India to exit housing finance business; to sell JV stake for Rs 160 crorePTI
Last Updated: Dec 24, 2020, 08:06 PM IST
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CBHFL is a financing and mortgage company jointly promoted by four public sector institutions Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India (SUTTI) and Housing and Urban Development Corporation (HUDCO).
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NEW DELHI: State-owned
Central Bank of India will exit housing finance joint venture by selling its entire stake of over 64 per cent to Centrum Housing Finance for Rs 160 crore.
Central Bank of India to exit housing finance
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PSB to sell stake in JV for ₹160 crore.
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PSB to sell stake in JV for ₹160 crore. State-owned Central Bank of India will exit its housing finance joint venture by selling its entire stake of more than 64% to Centrum Housing Finance for ₹160 crore. “This is to inform that the bank has entered into a binding agreement to divest its entire equity stake of 64.4% i.e. 1,61,00,000 shares of face value of ₹10 each in Cent Bank Home Finance Ltd (CBHFL), to Centrum Housing Finance, subject to approvals from regulatory authorities,” Central Bank of India said.
Through its subsidiary - Centrum Housing FinanceCentrum Capital announced that the company s subsidiary, Centrum Housing Finance has entered into share purchase agreement with Central Bank of India for acquisition of the Bank s entire equity stake in Cent Bank Home Finance constituting 64.40% of the share capital of CBHF on a fully diluted basis.
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Centrum Capital Ltd arm to acquire 64.40% stake in Cent Bank Home Finance Ltd
Posted On: 2020-12-24 09:01:28 (Time Zone: Arizona, USA)
Centrum Housing Finance Limited, a subsidiary of Centrum Capital limited has entered into a Share Purchase Agreement with Central Bank of India ( CBoI ) for acquisition of CBoI s entire equity stake in Cent Bank Home Finance Limited ( CBHFL ) constituting 64.40% (sixty four point fourty percent) of the share capital of CBHFL on a fully diluted basis, subject to the receipt of regulatory approvals first being obtained and compliance of applicable law.
Cent Bank Home Finance Limited is a deposit-taking Housing Finance and Mortgage Company jointly promoted by four Public Sector Institutions, viz. Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India and Housing and Urban Development Corporation.