Canara Bank to acquire 51pc stake in CFHL

New Delhi, Aug 27: Canara Bank today said its board has permitted it to acquire differential shares to hold 51 per cent stake in Can Fin Homes Ltd (CFHL)-through an open offer.

After the acquisition CFHL will be converted into a subsidiary, statement said.

Necessary permissions have been obtained from RBI and Ministry of Finance, the statement added.

Ind Bank Merchant Banking Services Ltd, Chennai are the Merchant Banker to the open-offer scheme.

UNI