PNB may seek clarity on housing finance arm s fund raising deal involving PE investors
By IANS |
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New Delhi: An employee comes out as Punjab National Bank pulls down the shutters during two day bank strike spearheaded by the United Forum of Bank Unions (UFBU), an umbrella body of nine unions; in New Delhi on May 30, 2018. The bankers are striking. Image Source: IANS News
New Delhi, June 9 : The board members of Punjab National Bank (PNB) including its independent directors may seek more clarity on the PNB Housing Finance fund raising deal.
The Rs 4,000 crore transfer of control deal in PNB Housing Finance to a private equity led consortium led by Carlyle Group has faced opposition from proxy advisory firms and a section of PNB s minority shareholders feel that the entire deal was concluded in a non-transparent manner.
PNB board may seek clarity on housing finance arm s fund raising deal involving PE investors
IANS
09 June 2021
The Rs 4,000 crore transfer of control deal in PNB Housing Finance to a private equity led consortium led by Carlyle Group has faced opposition from proxy advisory firms and a section of PNB s minority shareholders feel that the entire deal was concluded in a non-transparent manner.
A senior executive of the public sector bank (PSB) confirmed that though there was no regulatory issues with the transaction, more clarity could be sought on the contours of the deal. PNB is expected to address some of the concerns raised on the deal at the shareholders meet scheduled next month.