Emirates NBD to acquire majority stake in RBL Bank

The Board of Directors of Emirates NBD Bank (P.J.S.C.) (“ENBD”) and RBL Bank Limited (“RBL Bank”) at their respective meetings held today, approved entering into definitive agreements for ENBD to acquire controlling stake in RBL Bank through a primary infusion of approximately USD 3bn (~ INR 26,850 cr).

The proposed investment will be made via a preferential issue of up to 60% and will be subject to regulatory approvals and other customary closing conditions. As part of this transaction, ENBD will also make a mandatory open offer for the purchase of up to 26% stake from the public shareholders of RBL Bank, in accordance with SEBI’s Takeover Regulations.