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Yes Bank says Rabobank has no plan to sell stake in it

Yes Bank says Rabobank has no plan to sell stake in it
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First Published: Thu, Apr 21 2011. 06 26 PM IST
Updated: Thu, Apr 21 2011. 06 26 PM IST
Mumbai: Private-sector lender Yes Bank said on Thursday Rabobank has no immediate, short or medium-term plan to sell its remaining stake in the firm.
Rabobank in 2010 sold an 11% stake in the mid-sized Indian lender for about $213 million in order to apply for its own India banking licence.
Earlier on Thursday, CNBC TV-18 reported citing sources that the Dutch lender was looking to exit Yes Bank and was likely to sell its remaining 4.9% stake soon.
After the report, Yes Bank shares were down as much as 4.5% before closing down 4% at Rs 317.35 in the Bombay Stock Exchange.
“Rabobank remains committed to retaining its minority stake in the bank. The information reported in the news channel is incorrect, and the facts have not been verified with either Rabobank or Yes Bank,” it said in a press release.
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First Published: Thu, Apr 21 2011. 06 26 PM IST