Emirates NBD to acquire majority stake in RBL Bank through primary infusion of $3bn

The Board of Directors of Emirates NBD Bank (P.J.S.C.) and RBL Bank Limited at their respective meetings held today, approved entering into definitive agreements for ENBD to acquire controlling stake in RBL Bank through a primary infusion of approximately $3 billion (~ Rs 26,850 crore).

On October 13, Moneycontrol was the first to break the story that Emirates NBD had entered advanced negotiations to acquire a majority stake in RBL Bank in a mega proposed transaction which would trigger an open offer. The report mentioned that the preferential route was likely to be used for the deal which would be subject to RBI approval.

Later on October 15, Moneycontrol also reported that RBL Bank was set to become the largest subsidiary of Emirates NBD outside Dubai and was nearing a $3 billion d