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BRIEF-Co-operative Bank says many parties expressed interest in sale process
March 24, 2017 / 9:10 AM / 6 months ago

BRIEF-Co-operative Bank says many parties expressed interest in sale process

March 24 (Reuters) - Co-operative Bank Plc:

* Update on sale process and capital raise

* Since then a number of credible strategic and financial parties have expressed interest in sale process

* Are currently evaluating information on bank.

* Bank has requested that preliminary expressions of interest should be submitted in first half of April.

* Number of credible strategic and financial parties expressed interest in sale process;are currently evaluating information on bank

* Following an assessment of those preliminary expressions of interest, bank plans to proceed to a second phase of sale process

* In parallel with second phase of sale process, bank will continue to have discussions with existing equity and debt security holders

* Can be no certainty that an offer for bank will be made, or that any offer made will be on terms acceptable to bank, shareholders Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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