State Bank of India and Yes Bank boards are convening Friday to finalize the sale of stakes to Sumitomo Mitsui Banking Corp. SMBC will acquire a 20% stake initially, potentially increasing to a majority, with SBI retaining a 10% share. The deal, subject to regulatory approval, could be India's largest bank M&A, with SMBC possibly gaining two board seats.
from Banking/Finance-Industry-Economic Times https://ift.tt/g6e4aNk
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