KPMG

Fairfax’s IDBI Bank Buy Became India’s Biggest Banking Deal Without Wall Street Advisers

Fairfax Financial Holdings’ $5.6 billion acquisition of a controlling stake in IDBI Bank stands out not only as the largest foreign investment in India’s banking sector, but also as an unusually lean transaction executed without major investment banks. The deal was completed without a formal adviser appointment process by Fairfax or IDBI Bank, while KPMG advised the government and two professional agencies helped assess fair value.