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Fairfax Financial to buy majority stake in India's IDBI Bank

Original: India's biggest bank sale is going to Toronto. Fairfax Financial is buying a 60.72% stake in IDBI Bank for about C$7.9 b

Fairfax Financial, the Toronto-based holding company, is buying a 60.72% stake in India's IDBI Bank for about C$7.9 billion (528.78 billion rupees), in what is being called India's biggest bank sale. India's cabinet approved the deal this week, but it still needs sign-off from the Reserve Bank of India before it can close.

Why now: The deal marks one of the largest cross-border bank acquisitions involving India and awaits final regulatory approval.

Fairfax FinancialIDBI BankReserve Bank of IndiaToronto

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• India's biggest bank sale is going to Toronto. Fairfax Financial is buying a 60.72% stake in IDBI Bank for about C$7.9 billion (528.78 billion rupees), the deal India's cabinet approved this week; it still needs the Reserve Bank of India's sign-off. The Financial Post's weekly… · i47i@social.i47i.cc · 2

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