Canara Financial institution on Thursday mentioned it has offered its stake in Russian three way partnership Industrial Indo Financial institution LLC (CIBL) to the opposite enterprise accomplice State Financial institution of India (SBI) for about Rs 121.29 crore.CIBL, included in 2003, is a three way partnership in Russia between SBI (60 per cent) and Canara Financial institution (40 per cent).
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Canara Financial institution, in a regulatory submitting, mentioned it has acquired your complete consideration quantity equal to Rs 121.29 crore on Thursday for the sale of its stake.
The Bengaluru-based state-owned financial institution entered into the settlement on the market on November 11, 2022
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