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· The Carlyle Group is considering buying Punjab National Bank’s shares in PNB Housing, which would give it a controlling stake, the report added. The U.S-based firm is keen on expanding its holding after valuations for the housing finance.
· NEW DELHI: State-run Punjab National Bank Friday said it will sell its partial stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm Varde Partners for Rs 1,851.6 crore. PNB has entered into agreements in relation to the said transactions Friday, the public sector bank said in a regulatory filing.
· PNB Housing’s key investors Punjab National Bank (PNB) alongside US private value firm Carlyle corners 66per penny of the organization. The general population area loan specialist has been under worry because of high non performing resources (NPAs), disturbed further after the Nirav Modi extortion in which Rupee14,500 crore ensures issued by.
Earlier this month, PNB called off a deal to sell stake in its housing finance arm to global private equity firms General Atlantic and varde partners. mehta also said that the lock-in period of PNB’s stake in the housing arm pnb Housing is about to expire and the bank can take a call on entire stake sale depending on the market conditions.
Punjab National Bank said today that it will divest stake in its subsidiary PNB Housing Finance and other entities like BSE, ICRA and Crisil depending on market conditions.
· PNB to sell 26 per cent in housing finance arm to US firm. 20 May 2009. Punjab National Bank, the country’s second-largest public sector lender, will sell a 26-0per cent stake in its housing.
India’s second-largest lender by assets Punjab National Bank Ltd will sell 6% stake in its housing finance arm through an offer for sale. The two-day share sale in PNB Housing Finance, which counts private equity firms Carlyle Group and General Atlantic as its backers, will begin on Tuesday, PNB said in a stock exchange filing.
The leading housing finance firm had filed IPO papers with SEBI in July. PNB Housing Finance, promoted by Punjab National Bank, would be using the proceeds from the share sale mainly towards.
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· On Friday, state-run Punjab National Bank (PNB) said in a regulatory filing that it will be selling a part of its stake in PNB Housing Finance to General Atlantic and Varde Partners for Rs 1,851.