M&A
Mergers, acquisitions, divestitures, and deal-making across the global financial sector.
Crédit Agricole proposes Banco BPM merger to create Italy's third-largest banking group
Crédit Agricole has proposed merger talks to Banco BPM, with an exchange ratio reflecting a 20% premium and a €1 billion dividend, which would lift its stake from 29.6% to about 45%.
Nedbank takes two NCBA board seats after its 66% takeover hands NCBA shareholders about 8% of Nedbank
Nedbank's chief financial officer and its corporate and investment banking chief join the board of Kenya's NCBA Group after the South African lender took a 66% controlling stake.
Fairstone completes C$1.8 billion takeover of Laurentian Bank as National Bank takes its retail and SME portfolios
Fairstone Bank has bought all of Laurentian Bank's common shares for C$40.50 each, about C$1.8 billion in cash, while National Bank of Canada has taken over retail and SME portfolios valued at about C$3.7 billion and C$8.0 billion.
Colony Bankcorp completes about US$163 million First Reliance merger, creating a bank with about US$5 billion of assets
Colony Bankcorp has closed its roughly US$163 million stock-and-cash purchase of First Reliance Bancshares, taking the Georgia lender into South Carolina with about US$5 billion of assets.
Banque du Caire starts trading after an EGP 36.4 billion IPO, with the IFC and EBRD investing US$100 million each
Banque du Caire listed on the Egyptian Exchange on 2 November after a 45% stake sale worth EGP 36.371 billion, with the IFC taking 7% for US$100 million.
IDBI Bank unions call a two-day strike against Fairfax's US$5.6 billion bid for a 60.72% stake
Employee unions at IDBI Bank have called a nationwide hunger strike on 2 and 3 November against the sale of a 60.72% stake to Fairfax at INR 81 a share, about US$5.6 billion.
Erste Group sets 2 November launch for Erste Bank Polska tender offer and lifts lending target above 290 billion euros
Erste Group will offer approximately PLN 713 per share to lift its stake in Erste Bank Polska above 50%, as its nine-month net result rose 20.6% to 3.1 billion euros including the Polish bank.
Monte dei Paschi shareholders reject Mediobanca merger, with 63.65% voting against
Shareholders in Monte dei Paschi di Siena voted 63.65% against the Mediobanca merger and rejected the bank's exchange offers for Banco BPM and Banca Generali by about 91%, rejecting the plan Luigi Lovaglio drew up against Intesa Sanpaolo's bid.
First Mid Bancshares agrees to buy Evergreen Bancshares for about $70.7 million
First Mid Bancshares is to acquire Evergreen Bancshares, the parent of American Bank of Freedom, in a stock and cash deal worth approximately $70.7 million, as First Mid prepares to grow above $10 billion in assets.
Kenya's competition authority clears Credinvest takeover of 100% of Rafiki Microfinance Bank
The Competition Authority of Kenya has approved Credinvest International Corporate Finance Limited's acquisition of 100% of Rafiki Microfinance Bank Limited, though the notice did not disclose the financial value of the transaction.
Shiga Bank and Senshu Ikeda enter final merger talks to create top Kansai regional lender
The two banks are in the final stages of talks on a tie-up that would overtake Kyoto Financial Group by assets, though both say nothing concrete has been decided.
RHB Bank wins extension to February 2027 for Tokio Marine insurance deal talks
RHB Bank now has until 11 February 2027 to negotiate with Tokio Marine Asia over the proposed disposal of up to 100% of RHB Insurance, after Bank Negara Malaysia approved an extension.