Monday, July 14, 2014

Monetising property: Advanced groundwork at Bank of India

.............Explaining the arrangement for such a transaction, a senior BoI executive said the Mumbai-headquartered bank could float a wholly-owned subsidiary for the deal. The selected real estate assets (buildings, head office premises and residences) would be transferred (formally, sold) to this subsidiary, a Special Purpose Vehicle (SPV), at value..........

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