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Buys stake in Global Trade
MUMBAI,
DEC. 24.
The Malta-based First International Merchant Bank (FIMBANK) has picked up 38.5 per cent stake in Global Trade Finance Company Ltd (GTF), an Indian trade finance entity, for $45.71 million and would use GTF as a platform to grow in Asia.
FINBANK has acquired 26 per cent stake held by WestLB AG, a German financial institution, and 12.5 per cent from the International Finance Corporation (IFC), a private sector funding arm of the World Bank, its Chairman, Najeeb H M Al-Saleh, told reporters here today.
PTI
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