GA, Värde cancel planned investment in India's PNB
General Atlantic and Värde Partners have terminated a planned INR18.5 billion ($267 million) investment in PNB Housing Finance, the publicly listed mortgage subsidiary of India’s Punjab National Bank (PNB).
The investors had agreed to buy 10.9 million shares each from PNB, which would have seen Värde gain a 6.5% stake and General Atlantic raise its holding from 8.5% to 15%. With the termination of the investment,...
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