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The Competition Commission of India has approved Japanese company Sumitomo Mitsui Banking Corporation’s stake purchase in Indian lender Yes Bank.
SMBC in May had signed a deal to purchase 20% stake in Yes Bank for $1.6 billion, making it the largest cross-border merger and acquisition deal in India’s financial sector.
More details will be released soon.
Currently, SMBC holds a 20% stake in Yes Bank, acquired in May 2025 through a secondary share purchase. This comprised a 13.19% stake from State Bank of India (SBI) and a combined 6.81% stake from seven other domestic banks: Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank.
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