Italy’s UniCredit SpA and Germany’s Commerzbank AG had scheduled merger talks earlier this year before the potential deal was shelved due to the Ukraine war, the Financial Times reported on Wednesday. In...
Banking
NCLT grants more time to FRL to reply to BOI plea
The Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday granted more time to Future Retail Ltd (FRL) to file its response to a Bank of India petition seeking to initiate insolvency resolution...
IDBI Trust invokes pledged investments in Future Group companies
Future Lifestyle Fashions (FLF) said on Thursday that IDBI Trusteeship Services has invoked the pledge it made on investments in FLFL Lifestyle Brands (FLBL) and nearly a dozen other associate firms, after FLBL failed...
IDBI Bank privatisation process on; decision on quantum of dilution after roadshow: DIPAM Secy
IDBI Bank’s privatisation process is on and the quantum of stake sale will be decided after the roadshow is complete, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said...
NCLT admits petition for CIRP against EPC firm McNally Bharat Engineering
The Kolkata Bench of the National Company Law Tribunal (NCLT) on Friday admitted a petition to start an insolvency process against McNally Bharat Engineering Company Limited, the troubled engineering, procurement and...
Merger with private bank, NBFC proposed at IDBI Bank roadshows
A merger with an existing private sector bank or a non-bank finance company was among options proposed for IDBI Bank at recent roadshows held to assess interest for the privatisation of the lender, according to people...
Regulator clears AIB/Ulster bank deal, sounds competition warning
Ireland’s competition regulator on Thursday cleared Allied Irish Banks’ (AIB) acquisition of 4.2 billion euros ($4.4 billion) worth of commercial loans from NatWest Group’s departing Ulster Bank unit...
YES Bank approaches NCLT to admit Zee Learn under the insolvency resolution process
Private sector lender Yes Bank has approached the dedicated bankruptcy court against BSE listed Essel Group company Zee Learn Ltd under the Corporate Insolvency Resolution Process (CIRP) for the default of about Rs 468...
French bank Credit Agricole to sell Credit du Maroc to Holmarcom
French bank Credit Agricole said it had agreed to sell 78.7% of its Moroccan banking unit Credit du Maroc to the Moroccan company Holmarcom, in a deal which it said would boost the strength of its balance sheet. Credit...
Mexico’s Inbursa says still interested in Citibanamex sale
Mexican bank Inbursa remains interested in the sale of Citigroup’s Mexico retail operations, known as Citibanamex, and a bid will depend on whether it is sold at a “good” price, an Inbursa executive...
HDFC moved NCLT against SITI Networks claiming default of Rs 296 cr
Housing Development Finance Corporation Ltd (HDFC) has moved insolvency tribunal NCLT against the country’s leading multi-system operator SITI Networks Ltd for alleged default of Rs 296 crore. SITI Networks has...
Brazil’s Itau Unibanco buys stake in agribusiness marketplace Orbia
Brazilian lender Itau Unibanco said on Monday it has reached a deal to acquire a 12.82% stake in the agribusiness marketplace Orbia, formally known as Rede Agro Fidelidade e Intermediacao. In its securities filing, the...