Canada's Warren Buffett bets his billions on India
Prem Watsa, often referred to as the "Warren Buffett of Canada," is making a significant investment in India through a deal worth approximately US$5.56 billion. The Canadian investor and CEO of Fairfax Financial Holdings is set to acquire a 60.72% stake in IDBI Bank, marking the largest cross-border banking deal in India. This move comes after the Cabinet Committee on Economic Affairs approved the transaction on October 14, ending a lengthy privatisation process.
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