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From The New Indian Express

Center Owned by Express Publications (Madurai) Ltd.

IDBI Bank sale: Fairfax subsidiary approved as buyer for Rs 52,878 crore

IDBI Bank sale: Fairfax subsidiary approved as buyer for Rs 52,878 crore

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NEW DELHI: The Centre has approved Fairfax Financial Holdings’ subsidiary, M/s 10955230 Canada Inc., as the strategic buyer for IDBI Bank. The proposed transaction is valued at Rs 52,878 crore. The government and LIC will sell a combined 60.72% stake, with the proceeds to be divided between them in…

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