Emirates NBD emerged as a potential buyer of a majority stake in India’s IDBI Bank

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Emirates NBD has emerged as a potential buyer of a majority stake in India’s IDBI Bank. According to reports in Indian media, Emirates NBD and Canada’s Fairfax Group submitted an expression of interest (EOI) earlier this week to purchase the 60.7 percent majority stake offered by the Government of India and Life Insurance Corporation of India.

The announcement comes just days after it was revealed that Abu Dhabi-based First Abu Dhabi Bank (FAB) seriously considered buying Standard Chartered Bank before pulling out. In a tweet on Saturday, the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, stated that the government had received multiple expressions of interest (EOIs) for IDBI Bank and that the sale process is now expected to move to the second stage.

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Emirates NBD emerged as a potential buyer of a majority stake in India’s IDBI Bank

Emirates NBD has emerged as a potential buyer of a majority stake in India’s IDBI Bank. According to reports in Indian media, Emirates NBD and Canada’s Fairfax Group submitted an expression of interest (EOI) earlier this week to purchase the 60.7 percent majority stake offered by the Government of India and Life Insurance Corporation of India.

The announcement comes just days after it was revealed that Abu Dhabi-based First Abu Dhabi Bank (FAB) seriously considered buying Standard Chartered Bank before pulling out. In a tweet on Saturday, the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, stated that the government had received multiple expressions of interest (EOIs) for IDBI Bank and that the sale process is now expected to move to the second stage.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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