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US based TPG Capital will buy nealry 75% stake of Union Bank via a private placement and acquisition of shares from the market trades.
Accordingly theshare capital of UBC will be increased since 50% bank will be acquired by private placement of new shares whilst exisitng strategic investors such as Indrajit Alexis Lovel will not sell his shares and other directors will also not sell their shares.
Further TPG will buy the remaining 25% from exisiting public shareholders from the market.
The Deal will be done at Rs.25 per share according to Union Bank insiders.
Await the announcement at Colombo Stock Exchange.
Accordingly theshare capital of UBC will be increased since 50% bank will be acquired by private placement of new shares whilst exisitng strategic investors such as Indrajit Alexis Lovel will not sell his shares and other directors will also not sell their shares.
Further TPG will buy the remaining 25% from exisiting public shareholders from the market.
The Deal will be done at Rs.25 per share according to Union Bank insiders.
Await the announcement at Colombo Stock Exchange.
