Dev Ahuja, the former promoter of Centurion Bank, is likely to sell his stake in the bank at Rs 11.50 per share to Sabre Capital Worldwide and six others who have teamed up for a stake in the bank.
Sources close to the development said most of the negotiations were over and the entities were readying papers to be placed to the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI).
An announcement to this effect was expected next week and papers were expected to be placed with Sebi and RBI in the next couple of weeks, the sources added.
V Jankiraman, the bank
