IDFC First Bank Ltd. on Thursday said its board approved a proposal to raise ₹3,200 crore through a preferential allotment of shares. The private sector lender will be issuing 39.68 crore shares to marquee investors at...
WeWork cleared to exit bankruptcy and slash $4 billion in debt
A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt and hand the company’s equity over to a group of...
SBI to sell guarantees of Reliance Naval promoter
State Bank of India (SBI) has initiated the process of selling personal guarantees given by Nikhil Gandhi, the erstwhile promoter of Reliance Naval and Engineering. The bank has set a reserve price of ₹3.48 crore, which...
HSBC completes sale of Russian unit to Expobank
HSBC has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty. HSBC’s exit from Russia has been...
ABN Amro to buy German lender Hauck Aufhäuser Lampe for $730 million
Dutch lender ABN Amro has agreed to buy private bank Hauck Aufhäuser Lampe (HAL) for 672 million euros ($730 million), strengthening its position as one of the top three wealth management firms in Germany. The sale by...
NCLT admits Srei’s insolvency plea against Supreme Infrastructure BOT
The National Company Law Tribunal (NCLT) has admitted Srei Infrastructure Finance’s petition to initiate a corporate insolvency resolution process (CIRP) against Supreme Infrastructure BOT after it defaulted on...
Spanish bank BBVA seeks authorisation of hostile takeover bid for Sabadell
Spanish bank BBVA on Friday asked stock market supervisor CNMV to authorise its 12.23-billion-euro ($13.29 billion) hostile takeover offer for smaller rival Sabadell, a potential tie-up of lenders that Madrid opposes...
Julius Baer, EFG stopped takeover talks after initial approach, sources say
Swiss private bank Julius Baer held talks with EFG International about a potential takeover in recent months but the discussions have stopped, people with knowledge of the matter told Reuters. The two Swiss banks were...
Coventry Building Society to buy Co-op Bank for $990 mln
Britain’s Coventry Building Society will buy Co-operative Bank for 780 million pounds ($989.9 million) in cash, the two companies said in a joint statement on Friday. The latest attempted tie-up among UK lenders...
Emirati bank FAB in advanced talks to buy Turkey’s Yapi Kredi
First Abu Dhabi Bank (FAB) is in advanced talks to acquire Turkish conglomerate Koc Group’s 61.2% stake in Istanbul-based lender Yapi Kredi for about $8 billion, according to three sources close to the matter...
Regional lender SouthState to buy Texas-based Independent Bank for about $2 bln
Regional lender SouthState Corp will buy Texas-based smaller rival Independent Bank Group for about $2 billion, the companies said on Monday, creating a combined entity with $65 billion in total assets. The all-stock...
Debt, equity holders approve merger of IDFC with IDFC First Bank
Shareholders and non-convertible debenture (NCD) holders of IDFC First Bank have approved a proposal to merge parent IDFC Ltd with the lender. The National Company Law Tribunal (NCLT) convened a meeting on May 17...
