M&A
Mergers, acquisitions, divestitures, and deal-making across the global financial sector.
IDBI Bank shares fall 7% as government agrees $5.5 billion stake sale to Fairfax
IDBI Bank shares fell more than 7% after India's government announced the sale of a 60.7% stake to Fairfax, a deal that still needs a Reserve Bank of India fit and proper assessment.
UniCredit wins ECB approval to lift Commerzbank stake above 30% without cap
The ECB has lifted restrictions on UniCredit raising its Commerzbank stake above 30%, and the Italian lender expects about 50% of voting rights by year-end if remaining approvals and offer conditions are met.
Taiwan's FSC approves Bank SinoPac and King's Town Bank merger, creating NT$3.19 trillion lender
Taiwan's Financial Supervisory Commission has approved the merger, which will give surviving Bank SinoPac NT$3.19 trillion in total assets, with the effective date still to be set.
Piper Sandler and Perella Weinberg Abandoned Proposed All-Stock Merger Talks
Piper Sandler and Perella Weinberg ended negotiations over an all-stock combination after failing to agree financial and personnel terms, leaving a potential consolidation of two US advisory firms unrealised.
India Approved Fairfax’s ₹528.78 Billion Purchase of Majority IDBI Bank Stake
India approved Fairfax Financial’s ₹528.78 billion purchase of a 60.72% stake in IDBI Bank, advancing a four-year privatisation process subject to regulatory approvals and completion conditions.
Kraken parent Payward agreed to acquire Lithuania’s Saldo Bank in Europe
Kraken parent Payward agreed to buy Saldo Bank’s Finnish holding company for an undisclosed sum, with regulatory approval required and completion expected during 2027 in Europe.
ISS urged Monte dei Paschi investors to reject twin bids
Proxy adviser ISS recommended that Monte dei Paschi shareholders reject proposed bids for Banco BPM and Banca Generali, alongside a related €4 billion special dividend.
Standard Bank agreed OPay investment tied to New York listing
Standard Bank Group signed a subscription agreement to invest in OPay, with closing tied to the fintech’s proposed New York listing and future African digital-banking cooperation subject to approvals.
Kenya’s Court Rejected Stay Bid in Safaricom Stake Sale Dispute
Kenya’s Court of Appeal rejected government and Vodacom applications to stay the judgment voiding a KSh204.3 billion Safaricom stake sale, leaving restoration orders in force during the substantive appeal.
HSBC completed sale of Germany’s INKA fund administrator to BlackFin
HSBC Continental Europe completed its sale of German fund administrator INKA to BlackFin on 9 October, transferring a platform that administered more than €470 billion at the end of June.
LSEG confirmed talks to buy Permira-owned Octus for about $3.5 billion
LSEG confirmed discussions with Permira over a possible acquisition of financial-data provider Octus at an enterprise value of about $3.5 billion, while stressing that no firm decision has been made.
Crédit Agricole agreed to acquire Germany’s IKB from Lone Star
Crédit Agricole agreed to buy all of IKB Deutsche Industriebank from Lone Star Funds, adding a German lender with €14.3 billion of assets and an €8.2 billion loan book.