India, Sept. 2 -- The Government of India issued the following news release:
The Competition Commission of India has approved the acquisition of certain share capital and voting rights of YES Bank by Sumitomo Mitsui Banking Corporation.
The proposed combination relates to the acquisition of share capital and votingrights of YES Bank by Sumitomo Mitsui Banking Corporation (SMBC).
SMBC, a Japan-based commercial bank, is a wholly-owned subsidiary and a core operating entity of Sumitomo Mitsui Financial Group. SMBC is a foreign bank in India, with branches in New Delhi, Mumbai, Chennai and an offshore branch in GIFT City, Gandhinagar. SMBC provides a range of banking services, such as provision of loans, accepting deposits and provision of l...