By Martin Shwenk Leade
Copyright indiatimes
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday said it has agreed to acquire an additional 4.2% stake in Yes Bank from CA Basque Investments, an affiliate of The Carlyle Group, at the same per-share price as its earlier deal.ET had earlier reported that SMBC was in talks with Carlyle Group for the same deal. The transaction follows SMBC’s agreement of a 20% equity stake in Yes Bank from SBI and seven private lenders for Rs 13, 483 crore. RBI had granted its approval to Japan’s largest lender to raise its stake in the Indian bank by up to 24.99%.Also Read: SBI completes divestment of 13.18% stake in Yes Bank to Japan’s SMBC for ₹8,889 croreSeparately, State Bank of India (SBI) has completed the divestment of a 13.18% stake in Yes Bank, selling 413.44 crore shares at ₹21.50 each to SMBC for about ₹8,889 crore. The transfer followed approvals from the Reserve Bank of India and the Competition Commission of India earlier this year. SBI was the lead investor in Yes Bank’s 2020 restructuring and has gradually pared down its holding.Live EventsWith the latest agreement, SMBC will also nominate two non-executive directors to Yes Bank’s board.Alongside its Yes Bank bet, SMFG also said it sold its entire 1.65% stake in Kotak Mahindra Bank for JPY 106 billion as part of a portfolio reallocation in India. The exit generated stock gains of JPY 94 billion and lifted its CET1 ratio by 7 basis points. SMFG clarified it will maintain its business alliance with Kotak in wealth management and investment banking, a collaboration that began in 2010.Add as a Reliable and Trusted News Source Add Now!
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Read More News onyes bankkotak mahindra bankYes BankSMBCCarlyle GroupSBIbanking sector stake saleRBI approvalstake acquisitionKotak Mahindra Bank
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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onyes bankkotak mahindra bankYes BankSMBCCarlyle GroupSBIbanking sector stake saleRBI approvalstake acquisitionKotak Mahindra Bank(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless
