Fairfax to buy 51% in Catholic Syrian Bank

[valueinvesting101]

https://economictimes.indiatimes.com/industry/banking/finance/fairfax-to-buy-51-in-catholic-syrian-bank/articleshow/62964948.cms

 

IIFL's demerger makes more sense after this news.

 

https://economictimes.indiatimes.com/industry/banking/finance/iifl-holdings-to-demerge-capital-wealth-finance-business-in-one-year/articleshow/62776055.cms

 

During IIFL conference call, they did mention one of the motivation was easier regulatory approval.

 

Could this be step along with demerger of IIFL to create bigger bank by merging Catholic Syrian Bank and IIFL?

[wondering]

Very good news if this deal goes through.  Patience is definitely a virtue.  First offer of 1300 Crore Rupees rejected, a year later the offer of 1200 Crore Rupees is proposed.  If my math is correct, is this around $18M US, or is it $180M USD?

[drzola]

Next CEO?

 

https://www.moneycontrol.com/news/business/companies/axis-banks-pralay-mondal-likely-to-join-fairfax-backed-catholic-syrian-bank-5418001.html