CCI clears Kotak purchase of Deutsche Bank's India retail businesses
KOTAKBANK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.6 pts less than Nifty 100 and 2.7 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Competition Commission of India approved Kotak Mahindra Bank's purchase of Deutsche Bank AG's Indian retail banking, private banking and wealth management operations. The businesses will be acquired as a going concern under a slump sale. Completion still depends on remaining regulatory approvals and conditions in the June 30 business transfer agreement. No deal value was disclosed.
A major approval hurdle is cleared, but the purchase is not yet complete and remains subject to other approvals and conditions.