Sumitomo Mitsui Banking Corporation (SMBC) has secured approval from the Reserve Bank of India to acquire up to 24.99% of Yes Bank. The deal, initially set at a 20% stake for $1.6 billion, marks a significant cross-border M&A transaction in India's financial sector. The RBI has also decided that SMBC will not be considered a "promoter" of Yes Bank post-acquisition.
from Banking/Finance-Industry-Economic Times https://ift.tt/0xPD4pm
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