Economic TimesLean R·
Fairfax plans IIFL Finance exit to fund IDBI Bank bid
Mumbai: Prem Watsa-backed Fairfax Financial Holdings is likely to exit IIFL Finance and use the proceeds to part-fund the proposed acquisition of IDBI Bank, multiple people familiar with the Canadian investor's plans told ET. They said Fairfax has informed the government that it plans to merge CSB Bank with IDBI Bank once it succeeds in its bid to takeover the state-owned lender, billed as the biggest overseas M&A in Indian banking.Fairfax plans to sell its remaining stake of about 13.7% in…
Read at Economic Times →
