SBI to buy shareholding in EXIM,IFC, FIM Bank

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Mumbai, Jan 24 (UNI) State Bank of India (SBI) has informed BSE that the Bank intends to purchase shareholding in Export-Import Bank of India (EXIM), IFC Washington and FIM Bank, Malta, and in Global Trade Finance Ltd. (GTFL), aggregating to 91 per cent of the total shareholding of GTFL, at an aggregate price of Rs 520.55 crore.

Approval from RBI for the purchase of these shares is awaited. As per RBI guidelines, a prior Public Notice of 30 days is required to be given by the sellers and buyers before effecting the sale or transfer of the ownership of shares or transfer of control.

Accordingly, a public notice is being issued jointly by Export-Import Bank of India (EXIM), IFC, Washington, FIM Bank, Malta, and SBI regarding the sale/purchase of shares subject to necessary permissions, consents and/or approval.

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