Everstone Capital, AION Capital eye stake in Catholic Syrian Bank:

Private equity firms Everstone Capital and AION Capital have envisaged interest in acquiring significant minority stake in Catholic Syrian Bank, as the Kerala-based lender looks to raise $100 million in equity, said Times of India report quoting sources. Last year, Fairfax made a formal offer to acquire a stake valuing the bank at around Rs 1,300 crore. However, the deal fell through over valuation differences. According to the news report, the board of CSB is expected to consider suitors for a 30 per cent stake this week. “They want a large enough stake with a board seat to influence the direction of the bank, and are not happy with a 4.9% stake in a syndicated deal,” said one of the sources cited in the report.

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