SBI to acquire another 20% stake in SBI Pension Funds for Rs 229.52 crore
Economy Business
State Bank of India (SBI) will acquire an additional 20 per cent stake in SBI Pension Funds, from SBI Caps, for Rs 229.52 crore, taking its stake to 80 per cent. “SBI has proposed the acquisition of a 20 per cent stake in SBI Pension Funds Private Limited currently held by SBICAPS (a wholly-owned subsidiary of SBI). All regulatory approvals in this regard have been obtained,” SBI said in a filing to the exchanges. The objective of the transaction is better management, SBI said. The acquisition, which will be in cash, will be completed by December 15, 2023.
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