Poin Utama
- Emirates NBD has submitted an updated offer to acquire a stake in India's IDBI Bank.
- Canada-based Fairfax Financial Holdings is the leading candidate in the sale process with its improved offer.
- The Indian government and LIC are putting up for sale their approximately 60.7 percent stake in IDBI Bank.
- Although Emirates NBD shares fell 2.7 percent on a daily basis, they have gained more than 7 percent since the beginning of the year.
Dalam Angka
Dubai-based Emirates NBD is among the parties submitting an updated offer to acquire a majority stake in India's IDBI Bank. Canada-based Fairfax Financial Holdings has increased its offer, making it the leading candidate in the process. The said stake sale has been on the agenda since 2022, when the Indian government and Life Insurance Corporation of India (LIC) planned to divest their combined 60.72 percent stake in the bank sooner or later.
The sale process was temporarily suspended because previous bids fell short of the government's expectations. In December, Emirates NBD officially expressed interest in a 60.7 percent stake in IDBI Bank. Additionally, the bank increased its influence in the region in June by purchasing a 60 percent stake in the Indian private bank RBL Bank for 2.8 billion dollars.
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Pertanyaan Umum
- Why did the sale of IDBI Bank shares come to the agenda?
- The Indian government and state-owned Life Insurance Corporation of India plan to raise assets by selling their 30.48 percent and 30.24 percent stakes in the bank, respectively.
- Who is the leading bidder for the IDBI Bank stake?
- Canada-based Fairfax Financial Holdings, which increased its offer, is the strongest candidate in the sale process, according to a Reuters report.
- What are Emirates NBD's other moves in the Indian banking sector?
- In June, the bank purchased a 60 percent stake in Indian private bank RBL Bank for 2.8 billion dollars.
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