Emirates NBD enters race to buy majority stake in India's IDBI Bank - reports

Mark Battersby
clock • 1 min read

Dubai-headquartered Emirates NBD has emerged as one of the contenders to buy a majority stake India's IDBI Bank. According to widespread India media reports, Emirates NBD and Canada's Fairfax Group submitted their expression of interest (EOI) earlier this week to buy the 60.7% majority stake that is being offered by the Government of India and Life Insurance Corporation (LIC). Currently, the Indian government and the Life Insurance Corporation (LIC) hold 94.71% in the lender.  IDBI Bank has a pan-India presence with 1,940 branches, 1,416 centres and 3,343 ATMs.  The prospective ...

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