The proposed sale of the government’s stake in IDBI Bank is unlikely to happen this fiscal, two people with direct knowledge of the matter said, posing a challenge to the Centre’s ability to meet the ₹51,000 crore...
Credit Suisse retail investors plan lawsuit challenging UBS buyout- FT
Retail investors who lost money when Credit Suisse was taken over by UBS in March plan to file a lawsuit challenging the buyout, the Financial Times reported on Sunday. The Swiss Investor Protection Association plans to...
PE firm KKR acquires $373 mln portfolio of Synovus Bank’s prime auto loans
Private equity giant KKR Tuesday it had acquired a $373 million portfolio of prime auto loans from Synovus Bank. Shares of Synovus Financial, the parent company of the bank, rose 2.8% in extended trading. KKR, which...
US trucking firm Yellow files for bankruptcy, blasts Teamsters
Some 30,000 workers at Yellow Corp were looking for jobs on Monday after the major trucking company filed for Chapter 11 bankruptcy protection, potentially saddling U.S. taxpayers with losses from a government rescue of...
EV firm Proterra files for Chapter 11 bankruptcy protection
Electric-vehicle parts supplier Proterra filed for Chapter 11 bankruptcy protection on Monday, making it the latest company to go belly up in an industry grappling with supply chain constraints, slowing demand and a...
State Bank of India files insolvency plea against Mumbai Metro One
State Bank of India (SBI) has approached the National Company Law Tribunal (NCLT) against Mumbai Metro One (MMOPL) to admit the company under the Corporate Insolvency Resolution Process (CIRP). The company is a joint...
IDBI Bank moves NCLAT against Zee; challenges NCLT order
IDBI bank has moved the National Company Law Appellate Tribunal (NCLAT) against Zee Entertainment to challenge an NCLT order, which rejected the private lender’s plea to initiate insolvency proceedings against the...
Hedge fund Oceanwood offers 4.4% stake in Spanish bank Unicaja
British hedge fund Oceanwood Capital Management is selling up to 117 million shares in Spanish bank Unicaja via accelerated book building, equal to a 4.4% stake or more than half of its total holding, bookrunner BOFA...
Mahindra eyes 9.9% stake in RBL Bank
Mahindra and Mahindra (M&M) Ltd has evinced interest in acquiring as much as a 9.9% stake in private bank RBL Bank Ltd, after picking up a 3.53% stake in the latter a week ago. “We may consider further investment...
Banc of California and PacWest to merge, raise $400 million in equity
Banc of California and PacWest Bancorp will merge in an all-stock deal to create a bank with $36 billion in assets, the companies said on Tuesday, coming together just months after the regional banking sector was mired...
Aussie competition regulator delays decision on ANZ’s $3.3 bln Suncorp Bank buy
Australia’s competition regulator on Monday said it has delayed its decision on ANZ Group Holdings’ proposed A$4.9 billion ($3.30 billion) acquisition of Suncorp Bank by a week to August 4, and has requested...
Regional Rural Bank mergers exempted from CCI Approval
The government has decided to exempt mergers of regional rural banks (RRBs) ordered by it from the requirement of clearance from the Competition Commission of India, a senior official said, an indication that the next...
