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PNB to sell stake in housing arm for Rs 1,851 cr

NEW DELHI: State-run PNB today said it will sell its partial stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm Varde Partners for Rs 1,851.6 crore.

New Delhi, March 29

State-run PNB today said it will sell its partial stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm Varde Partners for Rs 1,851.6 crore.

PNB has entered into agreements in relation to the said transactions today, the public sector bank said in a regulatory filing.

As per the agreement, PNB will sell 1,08,91,733 equity shares held in PNB Housing Finance Ltd (PNBHF) to General Atlantic Group at a price of Rs 850 per share, aggregating to Rs 925.80 crore. — PTI

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