Market Chatter: Blackstone Eyes Stake in India's IIFL Finance as Fairfax Financial Looks to Exit

MT Newswires Live

Sep 08

Blackstone (BX) is in talks to acquire a stake in India's IIFL Finance, with Fairfax Financial looking to sell its equity in the company, Bloomberg reported Monday, citing people familiar with the matter.

Fairfax, which held a 15.2% stake in IIFL Finance as of June 30, is considering selling its entire holding as it moves toward a potential acquisition of a 60.7% stake in IDBI Bank, according to the report. The sale would allow Fairfax to comply with regulatory requirements related to the proposed bank acquisition, Bloomberg said.

Blackstone is engaged in discussions with Fairfax and other shareholders to buy the stake in IIFL Finance, but talks are still at a preliminary stage, the report added.

Blackstone said that the report is a market rumor, while Fairfax Financial and IIFL Finance did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The sale would allow Fairfax to comply with regulatory requirements related to the proposed bank acquisition, Bloomberg said.</p><p>Blackstone is engaged in discussions with Fairfax and other shareholders to buy the stake in IIFL Finance, but talks are still at a preliminary stage, the report added.</p><p>Blackstone said that the report is a market rumor, while Fairfax Financial and IIFL Finance did not immediately respond to MT Newswires' requests for comment.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PRVT","symbol_name":"Tema Listed Private Managers ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2665321173","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2665321173","pubTimestamp":1788862213,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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The sale would allow Fairfax to comply with regulatory requirements related to the proposed bank acquisition, Bloomberg said.Blackstone is engaged in discussions with Fairfax and other shareholders to buy the stake in IIFL Finance, but talks are still at a preliminary stage, the report added.Blackstone said that the report is a market rumor, while Fairfax Financial and IIFL Finance did not immediately respond to MT Newswires' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}