Kotak Mahindra Bank wins CCI nod for Deutsche Bank retail deal
In short
Kotak Mahindra Bank has got approval from the CCI to buy Deutsche Bank India's retail and private banking businesses. The deal will be done as a going concern on a slump sale basis, according to the summary.
This matters for Kotak, Deutsche Bank India and customers in those businesses.
What the reporting says
Kotak Mahindra Bank has received CCI approval to acquire Deutsche Bank India’s retail and private banking businesses. A BusinessLine summary says the transaction will be undertaken as a going concern on a slump sale basis by Kotak Mahindra Bank from the seller.
Why it matters
Kotak Mahindra Bank has received CCI clearance to acquire Deutsche Bank India’s retail and private banking businesses.