Fairfax Financial Holdings plans to exit IIFL Finance to fund its IDBI Bank acquisition. The investor will use proceeds to part-fund the proposed takeover of the state-owned lender. Fairfax intends to merge CSB Bank with IDBI Bank after completing the acquisition. This move aims to simplify lending interests and avoid business overlaps. The deal is expected to be completed shortly after procedural steps.
Market Samachar is a news aggregator. This article was originally published by Stocks-Markets-Economic Times. Tap the button above to read the full story on their site.