Date:25/12/2004 URL: http://www.thehindu.com/2004/12/25/stories/2004122502841600.htm

Business - Briefly

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