Key Points of Divestment:
- Bank of Baroda has approved the divestment of up to 49% of its shareholding in BoB Financial Solutions Ltd. (BFSL).
- The move is part of BOB’s strategy to unlock value for shareholders and enhance competitiveness.
- BFSL is currently a wholly-owned subsidiary of BOB.
- The bank will issue an advertisement inviting expressions of interest from suitable investors/strategic partners to acquire BOB’s shareholding in BFSL.
- The details about the transaction process and other relevant information will be published on March 10, 2023.
- The divestment of up to 49% in BFSL is expected to attract significant interest from investors and strategic partners.
- BFSL has a strong market position and growth potential.
- The move is in line with BOB’s focus on rationalizing its portfolio and optimizing capital allocation.
Details of Divestment:
Bank of Baroda (BOB) announced on Thursday that its board has approved the divestment of up to 49% of the Bank’s shareholding in its subsidiary, BoB Financial Solutions Ltd. (BFSL). The move comes as part of BOB’s strategy to unlock value for shareholders and enhance the competitiveness of its businesses.
BFSL is currently a wholly-owned subsidiary of BOB. The bank will issue an advertisement inviting expressions of interest from suitable investors/strategic partners to acquire BOB’s shareholding in BFSL. The details about the transaction process and other relevant information will be published on March 10, 2023.
The divestment of up to 49% in BFSL is expected to attract significant interest from investors and strategic partners, given BFSL’s strong market position and growth potential. The move is also in line with BOB’s focus on rationalizing its portfolio and optimizing capital allocation.
About BOB:
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
For More Latest News Click Here
