Highlights of the merger-Centurion Bank and Bank of Punjab
Bank of Punjab will be merged into Centurion Bank.
New entity will be named 'Centurion Bank of Punjab'.
Centurion Bank's chairman Rana Talwar will take over as the chairman of the merged entity.
Centurion Bank's MD Shailendra Bhandari will be the MD of the merged entity.
KPMG India Pvt Ltd and NM Raiji & Co are the independent valuers and Ambit Corporate Finance was the sole investment banker to the transaction.
Swap ratio has been fixed at 4: 9, that is, for every four shares of Rs 10 of Bank of Punjab, its shareholders would receive nine shares of Rs 1 of Centurion Bank.
There has been no cash transaction in the course of the merger; it has been settled
through the swap of shares.
There will no downsizing via the voluntary retirement scheme.
Merger of Centurion Bank and Bank of Punjab... Click here
Share holding pattern of Centurion Bank of Punjab ... Click here
Financials of Centurion Bank of Punjab ... Click here
Gains from the merger ... Click here
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