General Atlantic, Värde invest $267m in India's PNB
General Atlantic and Värde Partners have invested INR18.5 billion ($267 million) in PNB Housing Finance, the publicly listed mortgage subsidiary of India’s Punjab National Bank (PNB).
The investors will each buy 10.9 million shares in PNB Housing from PNB for INR850 apiece, leaving the bank with 33.1 million shares, or a 19.8% stake. The share price represents a premium to the closing...
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