Canara Bank to divest its stake in Commercial Indo Bank LLC, Moscow

Canara Bank has entered into a share sale agreement in relation to sale of equity shares held by it in Commercial Indo Bank LLC (CIBL), Moscow, Russia with State Bank of India (SBI).

Based on share sale agreement and with the consent of Central Bank of Russia, entire shares held by Canara Bank have been transferred to SBI on 30.11.2022 However, consideration in USD 14.67 Mn as agreed by the parties is not yet received.

Shares of Canara Bank was last trading in BSE at Rs. 318.90 as compared to the previous close of Rs. 320.15. The total number of shares traded during the day was 246825 in over 3923 trades.

The stock hit an intraday high of Rs. 326.20 and intraday low of 318.15. The net turnover during the day was Rs. 79667519.00.

Source : Equity Bulls

Keywords

CanaraBank INE476A01014 StakeSale CommercialIndoBankLLC SBI