Fairfax India sells 9.7% of CSB Bank to comply with RBI requirements

From GlobeNewswire: 2024-06-26 23:42:00

Fairfax India Holdings Corporation has sold a 9.7% equity interest in CSB Bank Limited for INR 5.9 billion ($70 million) to comply with RBI dilution requirements. After the sale, Fairfax India’s share ownership in CSB Bank will be reduced to 40%. Fairfax India is an investment holding company focused on long term capital appreciation by investing in Indian businesses or businesses related to India. Forward-looking statements in the press release caution about risks such as oil price fluctuations, market volatility, and potential economic disruptions from events like the COVID-19 pandemic and conflicts in Ukraine and the Middle East.



Read more at GlobeNewswire: Fairfax India Sells a 9.7% Equity Interest in CSB Bank