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| Tuesday, 14 January 2003 |
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Sampath Bank led consortium to invest in Union Bank A consortium led by Sampath Bank is currently finalising arrangements to invest in the equity of Union Bank and will shortly seek regulatory approval for the investment. The investment will strengthen the capital structure of Union Bank enabling it to conduct operations on a wider scale. On conclusion of the transaction it would appear the controlling interest of Union Bank will vest with the Consortium led by Sampath Bank. |
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