According to information the business provided in a regulatory filing on Thursday, Bank of Baroda board has authorized the disposal of up to 49% of subsidiary BoB Financial Solutions.
The filing stated, ‘We advise that the Board of Directors of Bank of Baroda (BOB) have approved for divestment up to 49% of Bank’s shareholding in its 100% owned subsidiary i.e. BOB Financial Solutions Ltd. (BFSL) and issuance of an advertisement inviting Expressions of Interest from Suitable Investors/Strategic Partners to acquire the shareholding of BOB in BFSL.
Currently, BoB owns all of BFSL’s equity share capital, which is 100%.
‘Details about the acquisition procedure and other pertinent information will be released on March 10, 2023, for inviting EOI from the Appropriate Investors/Strategic Partners,’ the statement read.
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