Fairfax Buys Majority Stake in IDBI Bank
Canada's Fairfax Financial Holdings has agreed to buy a majority stake in India's IDBI Bank for over 520 billion rupees. The government and LIC are selling a combined 60.7 percent stake in the lender after years of delays.
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Fairfax Financial Holdings agreed to buy a majority stake in IDBI Bank for 520 billion rupees ($5.47B), the India government said on Wednesday afternoon.
