Suspense Crime Sach Ka Dam
Good news is coming out related to Yes Bank. Japan’s Mitsubishi UFJ Financial Group (MUFG) wants to take a majority stake in Yes Bank. MUFG is the world’s second-largest bank holding company. In August, MUFG had proposed to invest $2 billion in HDFC Bank’s NBFC company HDB Financial, which was rejected by the NBFC’s board. Yes Bank is India’s sixth-largest bank in terms of assets. The current market value of Yes Bank is Rs 68,586.98 crore. If MUFG buys a 51% stake in Yes Bank, it will be the largest acquisition in the Indian banking sector.
Yes Bank is looking for a new owner
Yes Bank is looking for a new owner. Earlier this year, MUFG was also one of the potential candidates who wanted to buy a majority stake in Yes Bank. But it dropped out after initial talks. Now after the rejection of the investment by HDB Financial, MUFG has revived its interest in Yes Bank. This information has been given in an ET report quoting people associated with the matter.
A proposal was also given to SBI
The Japanese lender has also submitted a non-binding offer to buy a 23.99% stake in the State Bank of India (SBI). If this deal goes through, it could be followed by an open offer for an additional 26% stake. In the last few days, MUFG has also started detailed due diligence of Yes Bank. This process may take four to six weeks. According to people familiar with the matter, no exclusivity agreement has been signed by any party yet. On Friday, Yes Bank shares were seen trading 0.05 percent or Rs 0.01 lower at Rs 21.87 on the BSE.
