Bank of India Acquires 76% share holding of P T Bank Swadesi, Indonesia

Bank of India has announced that the Bank has decided to acquire 76% share holding of M/s. P T Bank Swadesi Tbk, of Indonesia. On December 11, 2006, the Bank has signed a conditional Sale Purchase Agreement for this purpose with the majority shareholders of M/s. P T Bank Swadesi Tbk. The acquisition will be completed after obtaining necessary approval / confirmations from Bank Indonesia and Capital Market Regulators, etc, in Indonesia.

Source : Equity Bulls

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