The Life Insurance Corporation of India (LIC), India’s largest insurance company, said on Thursday, July 4, that it acquired a 0.2 per cent stake in IDFC First Bank Limited for ₹80.63 per share, increasing its...
Wipro asks NCLT to junk Ivalua’s insolvency plea
Wipro Limited Tuesday sought dismissal of Ivalua’s insolvency plea before the National Company Law Tribunal (NCLT). Wipro’s counsel contended that the company was not under any obligation to clear the...
Kapil Wadhawan moves NCLAT against Union Bank’s insolvency plea over ₹3,958-crore default
Kapil Wadhawan, the former promoter of Dewan Housing Finance Corporation Ltd (DHFL), has moved the National Company Law Appellate Tribunal (NCLAT) to challenge the initiation of personal insolvency proceedings against...
UBS completes merger of Swiss business with Credit Suisse
Swiss bank UBS has completed the merger of its domestic unit with Credit Suisse’s operations in its home market, the bank said on Monday, adding that the head of the Credit Suisse business was leaving the bank...
Bank Unions write to Finance Minister for merger of RRBs with Sponsor Banks
Two bank unions — AIBOC and AIBEA — have demanded the merger of Regional Rural Banks (RRBs) with their respective Sponsor Banks to ensure overall efficiency and viability of the banking sector. It is...
Australia approves ANZ’s $3.3 bln buyout of Suncorp Bank
Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial...
Fairfax Group to sell a 9.72% stake in CSB Bank via block deal
FIH Mauritius Investments is likely to sell a 9.72% stake in CSB Bank on Thursday through block deals to raise about Rs 595 crore. According to the term sheet issued by the banker IIFL, FIH Mauritius is expected to sell...
UBS to sell partial stake of a joint venture to Beijing state asset manager
UBS is selling a partial stake in one of its securities joint ventures to Beijing State-owned Asset Management (BSAM), a key step for the Swiss bank as it consolidates operations in China after its merger with Credit...
Germany’s Aareal to reap $2.1 bln gain in sale of Aareon to TPG consortium
German property lender Aareal Bank will book a gain of around 2 billion euros ($2.14 billion) after it sells its tech unit Aareon to private equity firm TPG and investor CDPQ, it said in announcing the deal on Monday...
HDFC Bank plans infra bond swap for securities of parent HDFC Ltd
HDFC Bank is discussing with investors and the regulator a plan through which the country’s most-valued lender would buy back some of the bonds issued by the erstwhile HDFC, and replace these instruments with new...
ABN Amro nears deal to buy HSBC’s German private bank, Boersenzeitung says
Dutch bank ABN Amro is seeking to further expand in Germany as it is nearing a deal to acquire HSBC’s wealth management unit in the country, newspaper Boersenzeitung reported on Friday, without specifying its...
Top Bank of Cyprus Investors to Explore Sale of Stake
Two of the top investors at Bank of Cyprus Holdings Plc are exploring a sale of their stakes in the country’s biggest bank, according to people with knowledge of the matter. AB CarVal Investors and Caius Capital are...
