City Union Bank in talks with FIs for stake sale

City Union Bank is in talks with financial institutions for stake sale. The bank's board will meet on March 29 to allocate shares.

The bank is in talks with IFC and DEG for a likely stake sale. The bank's Chairman and CEO, S Balasubramanian informs that L&T will pick up 4.76% stake in the bank at Rs 169 per share.