First Abu Dhabi Bank denies interest in acquiring stake in Yes Bank: Report
Jul 11, 2024 11:31 AM IST
Report claimed that Yes Bank stake sale has drawn interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.
First Abu Dhabi Bank PJSC denied reports that it is evaluating any possible offer for a stake in Yes Bank, news agency Reuters reported. The clarification came after Bloomberg reported that First Abu Dhabi Bank PJSC is interesting in buying a roughly $5 billion stake in Yes Bank.
The logo of Yes Bank is pictured on the facade of its headquarters in Mumbai.(Reuters)
The report claimed that the Middle Eastern lender is weighing a bid for as much as a 51 percent stake in Yes Bank.
It also claimed that Yes Bank stake sale has drawn interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. The report also said that it remains unclear how strong their appetite for a deal is and whether they will proceed.
Yes Bank has also denied a report that said it has received an in-principle approval from the Reserve Bank of India (RBI) for a 51 percent stake sale.
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