Corporation Bank is going to acquire 4% shareholding from the existing shareholder namely Nomura Asset Management Strategic Investments of LIC Nomura Mutual Fund Asset Management Company (AMC) at a price of Rs 5,66,91,800/- as per the valuation derived, subject to necessary approval and agreement, if any.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. Overall, the Bank has a wide network of over 9,000 centres across India, including 2,061 branches, 2,599 ATMs and 4,349 branchless banking units.
