Bandhan Bank divested 15,39,34,975 equity shares of Yes Bank Ltd. to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for a consideration of about Rs 331 crore. Bandhan Bank sold the said shares at a rate of Rs...
Banking
Sabadell’s board tells shareholders to reject BBVA’s hostile takeover bid
Spanish bank Sabadell’s board unanimously recommended its shareholders reject BBVA’s hostile takeover bid on Friday, a move that may add pressure on the rival to increase its offer. BBVA formally launched...
IDBI Bank moves NCLT with fresh insolvency plea against Zee Entertainment
IDBI Bank has filed a fresh plea in the National Company Law Tribunal (NCLT) seeking insolvency against media and entertainment firm ZEE. In its petition at the Mumbai bench of NCLT, IDBI Bank, claiming to be a...
Japan’s Sumitomo Mitsui to exit Kotak ahead of Yes Bank stake purchase
Japan’s Sumitomo Mitsui Banking Corp. (SMBC) plans to sell its stake in Kotak Mahindra Bank, likely to avoid any conflict of interest after getting the regulatory nod to buy nearly 25% in Yes Bank. The foreign lender...
CCI approves SMBC’s stake buy in Yes Bank
The Competition Commission of India on Tuesday approved Japanese company Sumitomo Mitsui Banking Corporation’s stake purchase in Indian lender Yes Bank. SMBC in May had inked a deal to take a 20% stake in Yes Bank...
Japanese banking giant Sumitomo Mitsui lines up Rs 16,000 cr more for fitter Yes
Japanese financial giant Sumitomo Mitsui Banking Corp (SMBC) is set to invest Rs 16,000 crore ($1.83 billion) in Yes Bank through a combination of equity and debt, according to people familiar with the matter. This...
Barclays to sell Entercard stake to Swedbank for $273 million
Barclays has agreed to sell its stake in joint venture Entercard Group to partner Swedbank AB for an estimated 2.6 billion crowns ($273.2 million), the British lender said on Thursday. The sale continues Barclays’...
Jana Small Finance Bank set to merge investment and financial holding firms
Jana Small Finance Bank has initiated a process to merge its non-operative financial holding company into core investment company to create a leaner structure even as the bank is awaiting Reserve Bank of India’s...
RBI greenlights SMBC plan to buy up to 25% in Yes Bank
The Reserve Bank of India (RBI) has approved the application of Japanese giant Sumitomo Mitsui Banking Corporation (SMBC) to acquire up to 24.99% in Yes Bank. The RBI has further clarified that SMBC would not be...
Mizuho, MUFG join race by Japan’s banks for money manager deals overseas
Japanese banks Mizuho and MUFG are targeting buying or partnering with overseas money managers, they told Reuters, joining other Japanese financial companies aiming for a larger share of the global investing market...
IDBI stake sale likely to be completed this fiscal: DIPAM secy
DIPAM Secretary Arunish Chawla on Thursday expressed hope of completing the IDBI stake sale this fiscal, as the qualified bidders have nearly completed their due diligence process. Speaking to the media at the sidelines...
Wind Blade Maker TPI Composites Files for Bankruptcy in Texas
Wind turbine blade manufacturer TPI Composites Inc. has filed for Chapter 11 to restructure its debt with support from lender Oaktree Capital Management. The company listed $500 million to $1 billion in estimated...
