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HDFC Bank & Centurion Bank of Punjab to pursue merger
This article was posted on Feb 25, 2008 and is filed under Press Releases
The Boards of HDFC Bank and Centurion Bank of Punjab met today to consider, in-principle, a merger between the two banks. The two Boards have resolved to pursue the merger subject to satisfactory due diligence, a fair share-swap ratio and all the requisite statutory, regulatory and corporate approvals, including those from the RBI, the stock exchanges, and the respective Boards & shareholders of both Banks.
The Boards of both banks will meet on February 25, 2008 to consider the swap ratio after receipt of the valuation reports; and on February 28, 2008 to consider the draft scheme of amalgamation and any other matters as required.
Sourced From: HDFC Bank
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