Canara Bank to make open offer for 51% stake in Can fin home

Mumbai, Aug 27 (UNI) Canara Bank, a leading public sector bank, today announced that it will make an open offer for 51 per cent stake in Can Fin Homes, a housing finance company, and convert it into a subsidiary.

The Bank's board of directors have approved the acquisition of 51 per cent differential shares in Can Fin Homes through an open offer, Canara Bank said in a disclosure to the Bombay Stock Exchange (BSE).

The Bank has appointed Chennai-based Ind Bank Merchant Banking Services as the merchant banker to the open offer process.

UNI