Prem Watsa’s Fairfax Makes Biggest India Bet Yet With IDBI Bank Deal
Prem Watsa’s Fairfax Financial has agreed to acquire a 60.72% stake in IDBI Bank for Rs 52,878 crore, in what is set to become India’s largest cross-border banking transaction. The deal underscores a long-term plan to build a broader financial services platform spanning banking, insurance, wealth management and capital markets, but it still faces regulatory scrutiny, integration challenges and questions over overlapping ownership with CSB Bank.
