Columbia Banking System will acquire Pacific Premier Bancorp in an all-stock deal for about $2 billion, the companies said on Wednesday, adding to the growing consolidation in the industry amid market uncertainty. U.S...
LIC hikes its stake in Bank of Baroda to 7.05%
Insurance behemoth LIC on Monday said it has increased its stake in state-owned Bank of Baroda (BoB) by nearly 2 per cent to 7.05 per cent. The life insurance company has acquired additional 10.45 crore shares from open...
SK Capital-Backed Chemical Business Ascend Files Bankruptcy
Ascend Performance Materials Inc., a chemicals business backed by SK Capital Partners, has filed bankruptcy and said it intends to restructure with support from its lenders. Houston-based Ascend and its corporate...
Italy clears UniCredit’s bid for Banco BPM with prescriptions
Italy has cleared with conditions UniCredit’s takeover bid for rival Banco BPM, with sources saying a speedier exit from Russia is among demands set by Rome for the bank led by CEO Andrea Orcel. UniCredit’s...
Oman’s Sohar International signals merger intent with Ahli Bank
Oman’s Sohar International Bank said on Monday it plans to explore a merger with smaller rival Ahli Bank SAOG, in a potential deal that would create a lender with around 11.1 billion Omani rials ($28.84 billion)...
Banco BPM secures 89.9% stake in Anima Holding after tender offer
Italy’s Banco BPM on Friday secured more than the two-third majority threshold set for its buyout offer for asset manager Anima Holding required to reap the maximum benefits from the deal. Bourse data and Reuters...
Mexico’s Inbursa sells 49.9% stake in STM Financial to Stellantis subsidiary
Mexican bank Grupo Financiero Inbursa said it will sell a 49.9% stake in its automotive finance unit STM Financial to Fidis, a subsidiary of car manufacturer Stellantis. Inbursa, owned by Mexican tycoon Carlos Slim...
ICICI Bank to exit from ICICI Merchant Services Pvt Ltd
ICICI Bank has said it plans to exit from its associate ICICI Merchant Services Private Limited by selling the entire 19 per cent stake in the company. The bank has executed a share purchase agreement with First Data...
UBS completes merger of Credit Suisse Service Company entities in India
UBS on Tuesday said it has concluded the merger of Credit Suisse Service Company entities with UBS Business Solutions in India. This marks a milestone in UBS’s broader integration journey, bringing together a...
Brazil’s BRB only acquiring key assets from Banco Master, CEO says
Government-controlled Banco de Brasilia (BRB) only agreed to acquire the healthiest and most strategically relevant assets from fellow lender Banco Master after months of negotiations, BRB CEO Paulo Henrique Costa said...
Hungary should sell its stake in MBH Bank, economy minister says
The Hungarian state should sell its 20% stake in MBH Bank, the country’s second-largest lender, in a potential upcoming share offering, the economy minister Marton Nagy said on Monday. Bloomberg reported last week...
Federal Bank signs pact to acquire additional 4 pc stake in Ageas Federal Life Insurance
Federal Bank on Friday said it has signed an agreement to acquire an additional 4 per cent stake in Ageas Federal Life Insurance Co Ltd (AFLIC) from Ageas Insurance International. In a BSE filing, Federal Bank said it...
