Fairfax Financial buying majority stake in India’s IDBI Bank for $7.9 billion
Fairfax Financial Holdings Ltd. has agreed to purchase a majority stake in Indian bank IDBI Bank Ltd. for approximately $7.9 billion. The deal grants Fairfax a 60.72 percent equity stake in the bank, following a competitive bidding process. Under the agreement, the Indian government retains a 15 percent interest, while Life Insurance Corp. of India will hold 19 percent.
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- IDBI Bank Stake Sale For ₹52,878 Crore, How Nine-Year Journey From RBI Restrictions To Fairfax Takeover Unfolded freepressjournal.in
- Centre Approves 60.72% Stake Sale In IDBI Bank To Fairfax For Rs 52,878 Crore ndtv.com
- Cabinet approves Canada’s Fairfax as ‘strategic buyer’ of IDBI Bank for Rs 52,878 crore indianexpress.com
