Canara Bank to sell 49% stake in asset management co

New Delhi, Mar 19 (UNI) Canara Bank today said it will divest 49 per cent stake in its wholly-owned asset management subsidiary Canbank Investment Management Services Ltd (CIMS) to Robeco Groep NV, Netherlands.

The bank will sell 49 per cent of its stake in CIMS in favour of Robeco Groep NV to form a joint venture, it said in a statement.

Canara Bank will sign a Memorandum of Understanding (MoU) with the Dutch company here today.

UNI