CCI approves Blackstone's acquisition of Federal Bank warrants
pre-market1 source ↓written by the desknot a recommendation
- to acquire
- 9.99% stake
- amounting
- ₹61.9 bn
The Competition Commission of India has approved Blackstone's plan to acquire a 9.99% stake in Federal Bank through warrants. The investment, amounting to ₹61.9 bn, will allow Blackstone to nominate one director to the bank's board if its stake remains above 5%. This move may enhance Federal Bank's governance and strategic direction.
• Blackstone's affiliate, Asia II Topco XIII, will subscribe to the warrants.
• Once exercised, the stake will represent a significant share of Federal Bank's capital.
Not investment advice. For informational purposes only.