FIMBank sells Indian company stake for €34.6 million

Malta-based FIMBank has sold its 38.5% shareholding in Global Trade Finance Limited (Mumbai, India) to State Bank of India for 2,168,100,000 rupees (€34.6m)

State Bank of India executed a share purchase agreement with Export-Import Bank of India, the International Finance Corporation and FIMBank p.l.c. respectively to acquire their shareholdings in Global Trade Finance Limited. As a result, State Bank of India will hold 91% of the shareholding in Global Trade Finance Limited.

Global Trade Finance is a major provider of international factoring, import factoring, domestic factoring and forfaiting services in India.