联邦财政部长尼尔马拉·西塔拉曼于周三（10月14日）表示，内阁经济事务委员会批准印度工业发展银行（IDBI Bank）的战略重组，是印度改革历程中的一个里程碑，因为政府正在推进将该银行出售给加拿大的Fairfax Financial Holdings。
“今天，随着CCEA批准IDBI Bank的战略重组，印度的改革轨迹迎来又一个里程碑，”西塔拉曼说。“我们现在正通过引入外国直接投资，同时保留少数股权，来推动其进入下一个增长阶段，”她补充道。
Union Finance Minister Nirmala Sitharaman on Wednesday, October 14, called the Cabinet Committee on Economic Affairs’ approval of IDBI Bank’s strategic restructuring as a milestone in India’s reform journey, as the government moves ahead with the lender’s sale to Canada’s Fairfax Financial Holdings.“India’s reform trajectory reaches another milestone today with CCEA’s approval of IDBI Bank’s strategic restructuring,” Sitharaman said.“We are now enabling its next phase of growth through the infusion of Foreign Direct Investment while retaining a minority stake,” she added.
CCEA批准Fairfax Financial Holdings作为战略买家，以52,878.08亿卢比收购IDBI Bank 60.72%的股份。该交易涉及印度政府持有的30.48%股份和印度人寿保险公司（LIC）持有的30.24%股份的出售。
交易完成后，该交易将成为印度金融服务业规模最大的外国直接投资交易。
The CCEA approved Fairfax Financial Holdings as the strategic buyer for a 60.72% stake in IDBI Bank for ₹52,878.08 crore. The transaction involves the sale of a 30.48% stake held by the Government of India and a 30.24% stake held by Life Insurance Corporation of India .Once completed, the deal is set to become the largest foreign direct investment transaction in India’s financial services sector.
财政部长表示，该重组将加强银行生态系统，并帮助银行服务超越全球基准。
The Finance Minister said the restructuring would strengthen the banking ecosystem and help banking services surpass global benchmarks.“It reinforces that India’s growth story is strong, economy is resilient, and the government’s commitment to reform is unwavering,” she said.
“这进一步证明印度的增长故事强劲，经济具有韧性，政府对改革的承诺坚定不移，”她说。政府和LIC将保留34%股份交易完成后，政府将保留IDBI Bank 15%的股份，而LIC将持有19%，两者合计持股比例为34%。然而，管理控制权将转移给战略投资者，这标志着该贷款机构所有权结构的重大变化。
Government and LIC to retain 34% stakeFollowing the transaction, the government will retain a 15% stake in IDBI Bank, while LIC will hold 19%, taking their combined shareholding to 34%. However, management control will pass to the strategic investor, marking a significant change in the lender’s ownership structure.
Fairfax的胜出报价为每股81卢比，高于独立确定的基准估值每股75.99卢比。此前一轮竞标因报价低于当时的保留价每股94.42卢比而失败，促使政府重新启动最佳报价竞标流程。该交易还需要获得监管部门的批准。
Fairfax’s winning bid of ₹81 per share was above the independently determined benchmark valuation of ₹75.99 per share. An earlier round of bidding had failed after offers fell short of the then reserve price of ₹94.42 per share, prompting the government to seek fresh best-offer bids. The transaction will also require regulatory clearances.
公平金融（Fairfax）目前持有CSB银行约40%的股份，将不得不应对印度储备银行对多家银行的发起人控制限制。获批的重组框架设想在两年内通过合并方式实现。一项长期待决的战略出售IDBI银行的股份出售是始于2022年的私有化进程的一部分，该进程采用了两阶段竞争性投标框架。五家实体提交了意向书，其中四家进入下一阶段，最终有两家提交了技术和财务投标。
Fairfax, which already holds around 40% in CSB Bank, will have to address Reserve Bank of India restrictions on promoter control across multiple banks. The approved restructuring framework envisages a merger route within two years.A long-pending strategic saleThe IDBI Bank stake sale follows a privatisation process that began in 2022 and involved a two-stage competitive bidding framework. Five entities submitted expressions of interest, four qualified for the next stage, and two eventually submitted technical and financial bids.
政府表示，此次重组旨在向银行体系注入增长资本，支持经济扩张，并改善微型、小型和中型企业的信贷可及性。政府还授权替代机制在符合适用流程的前提下，开展其剩余15%持股的未来公开市场出售。人寿保险公司（LIC）将根据监管要求管理其剩余股份。其他重大战略性撤资交易报道显示，价值52878亿卢比的IDBI银行交易是自塔塔集团于2022年1月收购印度航空以来的最大战略性撤资。
The government has said the restructuring is intended to bring growth capital into the banking system, support economic expansion and improve credit availability for micro, small and medium enterprises .The government has also authorised the Alternative Mechanism to undertake future open-market sales of its residual 15% holding, subject to the applicable process. LIC will manage its remaining stake in accordance with regulatory requirements. Other big-ticket strategic disinvestment dealsThe reports suggest, the ₹52,878-crore IDBI Bank transaction is the biggest strategic disinvestment since the Tata Group’s acquisition of Air India in January 2022.
该印度航空交易的企业价值为18000亿卢比，包括现金对价和买方承担的债务。在银行业，一项值得注意的最近交易是轴心银行（Axis Bank）以11603亿卢比收购花旗银行印度（Citibank India）的消费者银行业务，该交易于2023年3月完成。然而，IDBI银行交易性质不同，因为它涉及将银行的管理控制权转让给外国战略投资者，而政府和印度人寿保险公司则保留少数股权。专家认为，公平金融的IDBI银行交易可能重塑该贷款机构的未来，原因如下。
The Air India deal was valued at an enterprise value of ₹18,000 crore, including cash consideration and debt taken over by the buyer. In the banking sector, a notable recent transaction was Axis Bank’s acquisition of Citibank India’s consumer banking business for ₹11,603 crore, completed in March 2023. However, the IDBI Bank deal is different in nature, as it involves the transfer of management control of a bank to a foreign strategic investor, while the government and Life Insurance Corporation of India retain minority stakes. Why experts believe Fairfax's IDBI Bank deal could reshape the lender's future