The National Company Law Appellate Tribunal (NCLAT) on Tuesday issued a notice to ICICI Securities following an appeal by the minority shareholders against the tribunal’s order approving the financial broking...
IDFC to merge with IDFC FIRST Bank, effective October 1
IDFC Ltd on Friday announced that it will merge into IDFC First Bank effective October 1. This came after the Chennai bench of the National Company Law Tribunal sanctioned the merger scheme on September 25. Post October...
Nomura, Mizuho are leading bidders for one of India’s biggest investment banks
Nomura Holdings Inc. and Mizuho Financial Group Inc. are the leading bidders for a majority stake owned by KKR & Co. in one of India’s biggest investment banks, according to people familiar with the matter. The two...
UBS Group completes acquisition of HDFC Bank shares valued at Rs 543 cr
Swiss financial services company UBS Group on Wednesday bought shares of private sector lender HDFC Bank for over Rs 543 crore through an open market transaction. According to the block deal data available on the BSE...
Greece to kick off National Bank stake sale next week, sources say
Greece’s bank bailout fund HFSF will start the process to sell a stake of up to 12% in National Bank of Greece early next week, two officials with knowledge of the matter said on Tuesday. With the planned sale...
BNP Paribas signs deal to buy HSBC private banking unit in Germany
BNP Paribas has signed a deal to buy HSBC’s private banking unit in Germany as it continues to expand its footprint in wealth management, the French lender said on Monday. The deal, which BNP said should be closed...
Commerzbank warns UniCredit merger threat to Germany’s businesses
Commerzbank’s management has warned the German government that a potential multi billion euro merger with Italy’s second-largest bank UniCredit is a threat to businesses that make up the backbone of...
Austria’s RBI sells Belarus bank at a loss to UAE investor
Raiffeisen Bank International said on Friday it is selling its Belarus business at a loss to an investor from the United Arab Emirates, as the Austrian lender faces mounting pressure to also pare back its Russian arm...
Unicredit, Commerzbank merger would add value for all stakeholders, Orcel tells paper
A merger of Italy’s Unicredit and Germany’s Commerzbank could add value for all stakeholders and create a much stronger competitor in the German banking market, Unicredit CEO Andrea Orcel told Handelsblatt...
HSBC in talks to sell South African unit to FirstRand, Bloomberg News reports
HSBC Holdings is in talks to sell its South African corporate banking business to a unit of FirstRand, the country’s largest lender by market value, Bloomberg News reported on Friday, citing people with knowledge...
Yes Bank’s stake sale runs into RBI hurdle
The process of an equity stake sale in Yes Bank, giving an exit to investors that had bailed out the foundering lender four years ago, has hit a roadblock after the RBI rejected proposals from potential bidders to...
Commerzbank seeks to fend off potential UniCredit takeover, sources say
Commerzbank’s management has discussed how to keep the German lender independent, exploring defence strategies to resist a potential bid from UniCredit, a person familiar with the discussions said on Wednesday...
