India, Jan. 20 -- The Government of India has issued a release:
The Commission has approved the proposed acquisition of certain shareholding in RBL Bank Limited by Emirates NBD Bank (P.J.S.C.)
The proposed combination envisages the acquisition of shareholding of up to 74% (and not less than 51%) of RBL Bank Limited (RBL) by Emirates NBD Bank (P.J.S.C.) (ENBD), pursuant to:
ENBD is a public joint stock company listed on the Dubai Financial Market, and headquartered in Dubai, United Arab Emirates (UAE). ENBD is a banking group active in several countries including India. It is engaged in range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations.
RBL is a listed company incorporated in India, operating in the business of providing banking, financial and insurance services. It is a private sector bank and offers inter alia deposit taking services, loans and lending services, digital payment services and cash management services. RBL also has an IFSC Banking Unit (IBU) in GIFT City, which functions as an overseas branch.
Detailed order of the Commission will follow.
Disclaimer: Curated by HT Syndication.
