Dutch bank ING said on Friday it was facing a delay in completing the previously announced sale of its Russian division to Global Development JSC. “At the time, it was expected that the transaction would be...
Citigroup sells stake in Banamex to Mexican billionaire for $2.3 billion
Citigroup has agreed to sell a 25% stake in Grupo Financiero Banamex to a company owned by Mexican billionaire Fernando Chico Pardo and his family, marking a step toward Citi’s plan to take the unit public. The...
Japan’s SMBC picks up additional 4.22% stake in Yes Bank, becomes largest stakeholder
Yes Bank on Tuesday said Sumitomo Mitsui Banking Corporation (SMBC) of Japan has acquired an additional 4.22 per cent stake in the Mumbai-based bank. With the acquisition, SMBC’s stake in Yes Bank has increased...
Bank of Montreal explores sale of some US branches, WSJ reports
Bank of Montreal has recently launched a process to sell some of its U.S. branches with about $6 billion in deposits, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The Canadian...
Spain’s BBVA bank increases Sabadell bid to 17 billion euros in takeover battle
Spanish bank BBVA said on Monday it had raised its bid for smaller rival Sabadell by 10% to 17 billion euros ($19.95 billion), as part of its attempt to create the country’s second-biggest bank by assets. BBVA...
SMBC to buy additional 4.2% stake in Yes Bank from PE firm Carlyle Group
Japanese lender Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday said it will acquire an additional 4.2% stake in Yes Bank from a Carlyle Group affiliate for Rs 2,850 crore. The announcement comes alongside the...
Bandhan Bank completes divestment in Yes Bank to Japan’s SMBC, continues buying spree after SBI & Carlyle
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...
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...
