Fairfax plans to combine all of its interests in the insurtech company Go Digit and wealth management company IIFL Capital into IDBI Bank to make the lender into a holistic financial services provider. In Go Digit, Fairfax currently holds a 49% stake. A separate internal corporate restructuring approved by the CCI could eventually increase this … Read more
Indian government has announced a majority stake sale in the state-owned IDBI bank to Canadian firm Fairfax Financial Holdings for Rs 52,878 cr ($5.5 billion). Fairfax’s winning bid offered a price of Rs 81/ sharee for a 60.7% stake in IDBI Bank. During the bidding process, the government arrived at an average fair value of … Read more
Recently, Mitsubishi UFJ Financial Group (MUFG) had acquired a 20% stake in Shriram Finance. Bloomberg now reports that MUFG is looking to eventually gain majority control in the Company. The idea to increase stake from 20% to more than 50% is speculated to be in early stages with neither any indicated acquisition structure nor the … Read more
As per the reports, Aegis Logistics (ALL), India’s largest privately owned liquid logistics company in West Asia, is in advanced discussions to acquire Tristar, a West Asia based liquid logistics company, in a deal valuing the target at about USD 1.5 bn. ALL has supposedly begun talks with a group of European and Indian private … Read more
The Board of Anant Raj Ltd (ARL), has approved the demeger. ARL will first consolidate all its data centre and cloud operations under one entity before carving them out into Ashok Cloud Pvt. Ltd (ACPL), a dedicated digital infrastructure and cloud services company that will be listed independently. Shareholders of ARL will receive one fully … Read more
Kotak Mahindra Bank has signed a definitive agreement to acquire Deutsche Bank’s retail banking, private banking and wealth management business in India. The acquisition will add about Rs 29,000 crore in loans, Rs 16,000 crore in deposits and Rs 10,000 cr Investment AUM to Kotak Bank’s balance sheet. The deal will add 150,000 customers and … Read more
Bajaj Electricals Ltd said it has signed a definitive agreement to acquire the intellectual property and brand rights of Morphy Richards in India and select South Asian markets for Rs 141.4 cr. (Morphy Richards, founded in the UK in 1936, is globally known for its premium, design-led home appliances and personal care products.) The Company … Read more
Key Highlights of the Proposed Transaction: Merger of Sapphire Foods India Limited (SFIL) with and into Devyani International Limited (DIL) through a share-swap mechanism. Swap Ratio: 177 equity shares of DIL to be issued for every 100 equity share of SFIL. This is similar to their current respective valuations and there is no real arbitrage … Read more
In a stock exchange filing, Cartrade has informed about the above. According to media reports, the proposed deal could value CarDekho’s automotive classifieds business at around $1.2 billion This is significant vis-a-vis Cartrade’s own size; its mcap currently is around 1.7 bn $. If the deal goes through, it would add significant debt on the … Read more