A PYMNTS Company

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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

     

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.