| Singapore sovereign wealth fund GIC and Hong Kong-based Baring Private Equity Asia are in separate talks to invest about US$175 million (S$218 million) to buy a 49 per cent stake in India’s PNB Housing Finance currently held by investment firm New Silk Route, two people with knowledge of the matter said.
The deal could be finalised in about a month if the talks succeed, the people said. They declined to be identified as the negotiations were still private. PNB Housing Finance is a domestic mortgage lending unit of state-run Punjab National Bank, which holds the remaining 51 per cent stake...............................................Full Article: Source
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