COLOMBO: CIMB Investment Bank is the financial adviser to TPG Capital Management LP which is buying up to 75% interest in Union Bank of Colombo Plc (UBC), in the biggest buyout deal in Sri Lanka.
TPG and UBC said in a statement that TPG would invest up to about US$117mil in UBC through a combination of primary and secondary shares, representing up to 70% of the issued share capital, and warrants that, if exercised in full within their six-year term, would increase TPG’s interest in UBC to 75%.
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