Punjab National Bank buys Kazakhstan bank stake
By IANSMonday, December 13, 2010
MUMBAI - Punjab National Bank (PNB), India’s second largest public sector lender, Monday said it has bought 63.64 percent stake in Kazakhstan’s JSC Dana Bank.
PNB has acquired 35 million shares of 1,000 Kazakhstan tenge ($6.78) each at par for 3.5 billion Kazakhstan tenge ($23.765 million), PNB said in a regulatory filing to the Bombay Stock Exchange (BSE).
JSC Dana Bank shareholders are scheduled to meet Dec 15 to give its nod to the deal.
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