Canara Bank said it has sold 13.45 per cent stake in Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for Rs. 753.77 crore at Rs. 2,105 per share in an off-market deal.
Caladium Investment Pvt Ltd, which is an affiliate of GIC (Singapore's sovereign wealth fund), bought 35,80,849 shares of Can Fin Homes.
As at December-end 2016, the Bengaluru-headquartered public sector bank held 43.45 per cent stake in Can Fin Homes. Following, the stake sale, the bank now holds 30 per cent stake in the housing finance company.
Canara Bank said the sale is part of its efforst at monetising non-core assets.
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