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India: Competition watchdog record $2.4 billion bank deal

By  |  February 22, 2015

India’s antitrust regulator has approved Kotak Mahindra Bank record $2.4 billion purchase of ING Vysya it said in an order published on Friday.

Kotak had announced its plan to buy ING Vysaya in November last year, in what analysts predicted was the beginning of a long-awaited consolidation in a crowded banking sector.

The deal is the first major bank takeover since top privately held lender bought Bank of Rajasthan more than four years ago.

 

Full Content: Money Control

 

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