Indian regulator nixes acquisition of PE-backed Sharekhan
India's Foreign Investment Promotion Board (FIPB) has rejected BNC Paribas' proposed acquisition of PE-backed retail brokerage Sharekhan.
The FIPB made the decision at its May 20 meeting, according to an announcement. BNP had made its buyout offer last July, reportedly proposing to pay INR22 billion ($343 million) for 100% of Sharekhan's...
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