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Swiss Re buys 3.57 p.c. stake in Yes Bank

MUMBAI: Swiss Reinsurance Company, Zurich (Swiss Re), will be picking up a 3.57 per cent stake in new-age private lender Yes Bank for $26.5 million. Yes Bank's Managing Director and CEO Rana Kapoor told PTI that one crore shares of the bank would be issued to the Swiss reinsurance major at Rs. 120 per share aggregating Rs. 120 crore ($26.5 million). The bank's board approved the stake sale on Wednesday.

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