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...
Banking
Saraswat Bank gets RBI nod for merger with NICBL
The country’s largest cooperative bank Saraswat Co-operative Bank received the Reserve Bank of India’s approval to merge New India Co-operative Bank (NICBL) with itself, sources privy to the development said...
Govt to call financial bids for IDBI stake sale by Oct-Dec: Divestment secy
The government is preparing to invite financial bids in the third quarter (October-December) of FY26 for a strategic stake sale of IDBI Bank, as potential buyers have completed due diligence, Department of Investment...
Evercore to acquire British boutique investment bank Robey Warshaw for $196 million
Evercore will acquire British boutique investment bank Robey Warshaw for $196 million, the U.S. investment bank said on Wednesday. The payment will be made in two tranches, half in Evercore shares when the deal closes...
SMFG said to eye $1.1 billion additional investment in Yes Bank
Sumitomo Mitsui Financial Group Inc. is considering making an additional $1.1 billion investment in Indian lender Yes Bank Ltd., people familiar with the matter said, following a previous investment made by Japan’s...
Societe Generale agrees to sell local unit to State of Cameroon
Societe Generale has agreed to sell its Cameroon subsidiary to the State of Cameroon, the France-based international banking group said on Tuesday. The sale of Societe Generale Cameroun, the value of which was not...
Italy’s UniCredit doubles equity stake in Germany’s Commerzbank to 20%
UniCredit increased its shareholding in Commerzbank to 20%, giving the Italian lender a bigger stake in the German competitor as it seeks to win over opposition to a possible takeover of the rival. UniCredit converted...
GVK Power lenders to restart IBC process
Lenders to GVK Power and Infrastructure (GPIL) would re-run the debt-laden company’s insolvency process and seek separate bids for each of the four individual assets that cover businesses as diverse as land...
Emirates NBD eyes RBL Bank stake for India, Asia play
Emirates NBD Bank PJSC, owned by the Dubai government, is exploring the acquisition of a significant minority stake in RBL Bank as it looks to expand its footprint in Asia, said people aware of the matter. The...
Saraswat seeks RBI approval to acquire New India Cooperative Bank
India’s largest cooperative bank, Saraswat Cooperative Bank, has sought central bank approval to acquire New India Cooperative Bank Ltd, a senior management official stated on Tuesday. If the Reserve Bank of India...
Japan’s SMBC seeks CCI nod to acquire 20 pc stake in Yes Bank
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has sought clearance from the fair trade regulator CCI to acquire a 20 per cent stake in private sector lender Yes Bank. The development came after State Bank of...
Banca Mediolanum sells entire stake in Mediobanca for about $646 million
Italian asset manager Banca Mediolanum said on Monday has completed the sale of its entire 3.5% stake in merchant bank Mediobancafor about 548.4 million euros ($646.2 million). Banca Mediolanum has sold its stake of 29...
