Union Bank has issued a statement referring to the proposed acquisition of Culture Financial Holdings Ltd. (a substantial shareholder of shares in Union Bank) by CG Capital Partners Global Pte. Ltd. that was announced in December 2022. On 24 October 2023, the Board of Directors of Union Bank received formal notification that the transaction has.
Sri Lanka s Union Bank said CG Capital Partners Pte Ltd, a unit of Nepali businessman Binod Choudhary s business group is now its ultimate controlling shareholder following the indirect acquisition of its main shareholder.