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The Netherlands Development Finance Company (FMO) has exited from City Union Bank by selling its entire 4.32 per cent equity share in the Bank for an aggregate amount of Rs 147.66 crore.
According to the bulk deal data with the Bombay Stock Exchange, FMO, which is called Nederlandse Finnancierings Maatschappijvoor Ontwikkelingslanden N V, has offloaded its entire stake of 2,34,37,500 equity shares in the company, which is around 4.32 per cent of the total equity share in the Bank, for Rs 63 per equity share.
Meanwhile, Lavender Investments Ltd, which is part of invstment firm Chrys Capital, has acquired around 2,21,75,755 equity shares, which would be around 4 per cent of the total share in Bank, at Rs 63 per share, aggregating to a total trade price of Rs 139.7 crore.
As per recent reports, the Reserve Bank of India has earlier this month allowed foreign institutional investors to purchase up to 35 per cent of the paid-up capital of the company.
