CCI approves Blackstone's 9.99% stake acquisition in Federal Bank
after close1 source ↓written by the desknot a recommendation
- to acquire
- 9.99% stake
- at least
- 5% stake
- on full exercise
- 9.99%
The Competition Commission of India (CCI) has approved Blackstone's proposal to acquire a 9.99% stake in Federal Bank through warrants. The acquisition will be executed via Blackstone's arm, Asia II Topco XIII Pte Ltd, allowing it to nominate a director on the bank's board if it maintains at least a 5% stake. This move could enhance Blackstone's influence in the banking sector.
• Stake acquisition through warrants
• Blackstone to hold 9.99% on full exercise
• Right to nominate a director on board
Not investment advice. For informational purposes only.