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India: CCI approves Kotak Mahindra bank’s acquisition

By  |  February 23, 2015

The proposed merger deal between Kotak Mahindra Bank and ING Vysya has got a green signal. Kotak Mahindra had announced the buyout of ING Vysya Bank in an all-stock deal in November last year and it had approached CCI for approval on the deal in December.

The Competition Commission of India said the proposed merger was not likely to have an adverse impact on competition in banking and allied services. The proposed deal is the first major bank takeover.

“The merger will create a huge chunk of opportunities and synergies for its incoming shareholders from ING Vysya Bank. They will also be able to witness the excellence and the leadership by Kotak Mahindra Bank.

 

Full Content: The Economic Times

 

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