BusinessPhoto: Business StandardFairfax Financial Acquires 60.72% Stake in IDBI Bank for $5.6 Billion
Canadian billionaire Prem Watsa's Fairfax Financial Holdings Ltd. will acquire a 60.72% stake in IDBI Bank Ltd. for 528.78 billion rupees ($5.6 billion), marking the largest foreign investment in India's financial sector. The deal values IDBI Bank at around 871 billion rupees and includes the Indian government and LIC retaining 34% ownership. This acquisition reflects growing foreign interest in India's banking industry.
Business Standard··Mumbai


