June 2013
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Stanchart To Acquire Morgan Stanley’s Private Banking Arm

Standard Chartered India said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals.

“Standard Chartered India has agreed to acquire Morgan Stanley’s onshore private wealth management business here. The acquisition complements our existing private banking onshore business and will significantly increase our private banking AUM here,” said a statement by StanChart India. Standard Chartered India had re-entered the private banking business in 2006 after a decade’s […]

IDBI offers to sell Stock Holding Corporation of India stake

Public sector lender IDBI Bank that had mounted a bid to merge Stock Holding Corporation of India (SHCIL) with itself has now approached the government, seeking permission to sell its stake in the country’s largest custodial and depository services firm to state-owned non-banking finance company IFCI.

The move comes in the wake of the finance ministry is reluctance to allow SHCIL to merge with IDBI Bank. TOI was the first to report on May 13 that the government was […]

Qatar fund eyes $200m RMZ deal

An affiliate of Qatar Investment Authority is holding discussions to invest about $200 million, Rs 1,200 crore, in RMZ Corp, one of south India’s largest commercial developers, said people directly involved with the talks. The deal could be a combination of equity and debt, split equally, into a special purpose vehicle housing the Bangalore based developer’s commercial projects under development. The discussions are routed through Qatar Investment Company, a part of the oil rich Middle East nation’s sovereign wealth fund […]