Intesa Sanpaolo on Monday launched a bid to acquire all shares of Banca Monte Dei Paschi Di Siena (MPS), the company said. Intesa said its share-and-cash offer entailed a premium of 12.5% versus Monte dei...
Banking
Axis Bank hikes stake in Axis Max Life Insurance to 19.9%
Private lender Axis Bank on Monday said it has raised its stake in Axis Max Life Insurance Company to 19.9 per cent. Based on approval granted by the Acquisitions, Divestments and Merger Committee of the board of...
MPS CEO says no merger talks with BPM, focus is on Mediobanca
Italy’s Monte dei Paschi di Siena (MPS) is focused on integrating recently acquired Mediobanca and is not holding merger talks with Banco BPM, CEO Luigi Lovaglio said on Friday. Italian media reported on...
IDBI Bank stake sale back on table; Centre explores revival options
The Centre is exploring ways to revive the stalled privatisation of IDBI Bank, people familiar with the matter told ET. The choices include examining whether earlier rejected bids, from Prem Watsa-led Fairfax Financial...
MPS, Banco BPM discussed merger after Lovaglio reappointed, Italian news agency says
Italy’s Monte dei Paschi di Siena (MPS) and rival Banco BPM held talks about a long-mooted potential merger shortly after Luigi Lovaglio was reappointed as MPS CEO in April, Italian news agency Adnkronos...
LIC raises stake in Central Bank of India to over 6% amid government OFS move
State-owned insurer Life Insurance Corporation of India has increased its stake in Central Bank of India to 6.06% from 3.16% earlier, following a fresh market purchase of shares. In an exchange filing, the Central Bank...
Emirates NBD launches open offer to acquire 26% stake in target company
Emirates NBD Bank has announced an open offer to acquire up to 415.59 million equity shares, representing 26 per cent of the expanded voting share capital of RBL Bank. The offer price has been fixed at Rs 282.38 per...
Govt to offload up to 8% stake in Central Bank of India through OFS
The government will offload up to 8 per cent stake in Central Bank of India through an offer for sale (OFS) starting Friday, Disinvestment Secretary Arunish Chawla said late Thursday in a post on X. The OFS will open...
Italy’s Intesa among bidders for Spanish private bank Singular, sources say
Italy’s Intesa Sanpaolo is among suitors for Singular Bank as U.S. fund Warburg Pincus seeks to sell its 93% stake in the Madrid-based private lender, three people close to the matter said. The Financial Times...
TVS Venu, Shruti Lohia-promoted firms to buy minority stakes in Jana Small Finance Bank
A family enterprise of TVS Motor Company chairman emeritus Venu Srinivasan and another firm owned by the daughter of Indorama Corporation founder SP Lohia will acquire a 14.5% stake in Jana Small Finance Bank. The TVS...
TVS, other investors keen to buy into Jana Small Finance Bank
A clutch of new investors, including Venu Srinivasan-led TVS Venu Group, would buy into Jana Small Finance Bank, while the lender’s long-time partner TPG Capital is likely to partially reduce its stake, people...
Government gives final nod to Emirates NBD’s $3 billion majority stake in RBL Bank
Dubai-based Emirates NBD has received all regulatory and governmental approvals including from the Government of India for its acquisition of a majority controlling stake in RBL Bank Limited, paving the way for the...
