CCI approves proposed acquisition of certain shareholding in RBL Bank Ltd. by Emirates NBD Bank (P.J.S.C.)
India, Jan. 20 -- The Commission has approved the proposed acquisition of certain shareholding in RBL Bank Limited by Emirates NBD Bank (P.J.S.C.)The proposed combination envisages the acquisition of shareholding of up to 74% (and not less than 51%) of RBL Bank Limited (RBL) by Emirates NBD Bank (P.J.S.C.) (ENBD), pursuant to:A mandatory open offer under the provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 representing up to 26% of the expanded voting capital of RBL;A preferential allotment of equity shares amounting to up to 60% of the total paid-up equity share capital of RBL; andThe proposed amalgamation of ENBD's banking operations in India (carried on through the branch mode and operating throu...
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