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...
Global M&A powered by larger deals in first half; bankers show appetite for megadeals
Mergers and acquisitions during the first half of this year were not what investment bankers had hoped for, but a burst of big deals in Asia and renewed optimism in U.S. markets could be paving the way for megadeals...
UK Mobile Bank Starling Looking to Buy a US Lender in Expansion
Starling Bank, one of the UK’s largest mobile-only banks, is looking to buy a nationally chartered bank in the US to continue the firm’s expansion in the market, according to a person with knowledge of the matter. The...
JAL insolvency: Five firms submit bids to acquire bankrupt firm
Jaiprakash Associates Ltd (JAL) on Wednesday said it has received five bids along with earnest money for the acquisition of the company through the insolvency process. In a regulatory filing, Jaiprakash Associates Ltd...
Santander to sell seven Pennsylvania branches to Community Bank
Santander said on Wednesday it had agreed to sell seven branches in the Allentown, Pennsylvania area to U.S.-based Community Bank as the Spanish lender pivots towards becoming a digital-first bank in the United States...
Metro’s biggest shareholder open to selling stake, sources say
Colombian billionaire Jaime Gilinski Bacal is open to selling his majority stake in British lender Metro Bank and has received interest from investors, two people with knowledge of the matter said. Gilinski, who sits on...
