India's Motherson Sumi buys Finland's PKC Group for $619 million
Indian auto parts maker Motherson Sumi Systems Ltd (MSSL) said on Monday it had completed the buyout of Finland's PKC Group for 571 million euros ($619.4 million).
Indian state-run lender Canara Bank Ltd has sold a 13.45 percent stake in Housing finance arm Can Fin Homes Ltd to Singapore-based Caladium Investment Pvt Ltd for 7.54 billion rupees ($113.12 million), it said on Friday.
The divestment is seen as a part of the monetization process of non-core assets of Canara Bank, the company said in a statement to the exchanges.
Caladium Investment, which is an affilate of Singapore's sovereign wealth fund GIC, will buy about 3.6 million Can Fin Homes' shares at 2105 rupees each, a premium of about 8.4 percent, as of Thursday's close.
As of Dec. 31, 2016, Canara Bank owned 43.45 percent stake in Can Fin Homes, according to data on the BSE website.
($1 = 66.6550 Indian rupees)
(Reporting By Arnab Paul in Bengaluru; Editing by Swati Bhat)
TOKYO Bank of Japan board members said easy monetary policy will be in place for some time because consumer price growth is still distant from the central bank's 2 percent inflation target, a summary of opinions from their March 15-16 meeting showed on Monday.
U.S. stocks were well off session lows on Monday as investors sought bargains after a rough start on Wall Street following the defeat of President Donald Trump's first major legislative action.