Citizens Financial Group Inc is working on a bid to acquire the private banking business of failed Silicon Valley Bank, two people familiar with the matter said on Thursday. Citizens, one of the largest U.S. regional...
First Citizens plans to bid for SVB businesses – source
First Citizens Bancshares will submit bids to the Federal Deposit Insurance Corp (FDIC) to acquire parts of Silicon Valley Bank, one source with knowledge of the matter said on Monday. The bank, which has around $109...
First Citizens in talks to acquire Silicon Valley Bank, Bloomberg reports
First Citizens BancShares Inc is evaluating an offer for Silicon Valley Bank, Bloomberg News reported on Saturday, citing people familiar with the matter. At least one other suitor is making a serious consideration for...
US regulator approves Canadian Pacific purchase of Kansas City Southern
The Surface Transportation Board of the United States said on Wednesday it had approved Canadian Pacific’s $31 billion acquisition of railroad company Kansas City Southern with a series of environmental and...
ATC plans stake sale in India operations, cites weak customer financials
American Tower Corp (ATC) has said it is exploring the sale of an equity stake in its India operations to one or more private investors amid a challenging business environment in the country. The Boston-based tower...
Mahanagar Gas to acquire Ashoka Buildcon’s city gas arm Unison Enviro
Mahanagar Gas (MGL) signed an agreement to acquire rival private sector city gas distributor Unison Enviro from its promoters and existing shareholders Ashoka Buildcon and an investment fund managed by Morgan Stanley...
Axis Bank completes acquisition of Citibank India’s consumer business
Axis Bank – the third largest private sector lender — completed the acquisition of the consumer businesses of Citibank India and its non-banking finance arm, Citicorp Finance (India), for a cash consideration of...
Axis Bank-Citibank deal to be completed by March 1
Private sector lender Axis Bank on Thursday said that the deal to acquire Citibank’s India’s consumer business and NBFC business is expected to completed by 1 March 2023. Axis Bank will acquire Citibank’s...
Varo Energy buys 80% of Dutch biogas firm; aims to double capacity by 2026
Fuel trader and refiner Varo Energy, owned by Carlyle and energy trader Vitol, told Reuters on Thursday it had bought an 80% stake in Dutch biogas maker Bio Energy Coevorden BV (BEC) with a view to doubling its capacity...
Radio City’s scheme for NCRPS gets NCLT approval
The National Company Law Tribunal (NCLT) has approved Radio City parent Music Broadcast Ltd’s (MBL) scheme of arrangement for the issuance of non-convertible non-cumulative redeemable preference shares (NCRPS) on...
Developer China South City sells 70% stake in Xian projects for $717 million
Chinese logistics and commercial developer China South City Holdings Limited said it had agreed to sell a nearly 70% shareholding in a business that holds its projects in the central city of Xian to a state-owned...
CASE LAW: ACIT vs Anitha Kumaran 1164/Chny/2019
Snapshot: The Income Tax Appellate Tribunal (ITAT), Chennai held that property received from a private limited company by one of the family member of the shareholder pursuant to a will of the shareholder is not be...