Emirates NBD enters race to buy majority stake in India’s IDBI Bank

Dubai-headquartered Emirates NBD has emerged as one of the contenders to buy a majority stake India’s IDBI Bank.
According to widespread India media reports, Emirates NBD and Canada’s Fairfax Group submitted their expression of interest (EOI) earlier this week to buy the 60.7% majority stake that is being offered by the Government of India and Life Insurance Corporation (LIC).
Currently, the Indian government and the Life Insurance Corporation (LIC) hold 94.71% in the lender. 
IDBI Bank has a pan-India presence with 1,940 branches, 1,416 centres and 3,343 ATMs. 
The prospective …