M&ANDTV Profit
Fairfax to sell IIFL stake for IDBI Bank deal
Negative-36
GreyOak summary
Fairfax Financial Holdings plans to sell its nearly 11% stake in IIFL Finance to raise funds. The capital is intended for acquiring a 60% stake in IDBI Bank from the Indian government and LIC. This move follows Fairfax's initial 2015 investment which has since been diluted.
What it affects
- IIFL FinanceIIFLNegative -36
Stake sold to fund IDBI Bank purchase.Rolling sentiment Positive +42
- IDBI BankIDBIPositive +36
Fairfax to buy 60% stake via sale.Rolling sentiment Positive +60
Source
Read the original at NDTV ProfitMore IIFL Finance news
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