The Board of Directors of Emirates NBD Bank and RBL Bank today approved signing definitive agreements for ENBD to acquire 60 per cent stake in RBL Bank through a primary infusion of of ₹26,850 crore.

“As part of this transaction, ENBD will also make a mandatory open offer for the purchase of up to 26 per cent stake from the public shareholders of RBL Bank, in accordance with SEBI’s Takeover Regulations. The Board of Directors of ENBD and RBL Bank also approved the amalgamation of the India branches of ENBD with and into RBL Bank as required by RBI guidelines. This amalgamation is expected to be completed after the execution of the preferential issuance into RBL Bank,” a joint statement issued by the two banks said.

The proposed transaction is largest ever foreign direct investment in the

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