centurion-bank-of-punjab-announces-acquisition

Centurion Bank of Punjab announces acquisition

India's private equity-owned Centurion Bank of Punjab to take over Lord Krishna Bank strengthening its position in South India; transaction value estimated at Rs3 billion ($64.5 million).

By Sameera Anand

August 20, 2006

IndiaÆs Centurion Bank of Punjab Centurion BOP announced on Saturday, August 19 that it had honed in on privately-held Lord Krishna Bank as its next target. Centurion BOPÆs board will meet on September 4 to finalise details. It did not disclose the size of the transaction but market sources place it at around Rs3 billion $64.5 million. The transaction is likely to take the form of a share swap.

Centurion BOP, which is itself a turn around success story after its acquisition by the private equity fund started by Sabre Capital launched by Rana Talwar, formerly head of Standard Chartered Bank, has already consummated one acquisition in the last 12 months,...

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