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Punjab National Bank sells stakes in Principal PNB Asset, Principal Trustee

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Punjab National Bank sells stakes in Principal PNB Asset, Principal Trustee

Punjab National Bank said Aug. 28 that it completed the sale of its entire stakes in Principal PNB Asset Management Co. and Principal Trustee Co. Pvt. Ltd. to Principal Financial Group Inc.

The Indian lender's board approved the sale in November 2017 following the exercise of a call option by Principal Financial.