Centurion Bank of Punjab announces acquisition

India's private equity-owned Centurion Bank of Punjab to take over Lord Krishna Bank strengthening its position in South India; transaction value estimated at Rs3 billion ($64.5 million).

IndiaÆs Centurion Bank of Punjab Centurion BOP announced on Saturday, August 19 that it had honed in on privately-held Lord Krishna Bank as its next target. Centurion BOPÆs board will meet on September 4 to finalise details. It did not disclose the size of the transaction but market sources place it at around Rs3 billion $64.5 million. The transaction is likely to take the form of a share swap.

Centurion BOP, which is itself a turn around...

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