India's IndusInd Bank Ltd agreed an all-share deal on Saturday to buy microlender Bharat Financial Inclusion Ltd for close to 155 billion rupees ($2.4 billion), boosting its presence in microfinance lending and rural banking. IndusInd will give Bharat Financial's shareholders 639 of its shares for every 1,000 shares they own in the microfinance lender, both companies said in a joint statement. The deal values Bharat Financial at 1118.47 rupees a share, an 11.4 percent premium to the stock's Friday closing price of 1,004 rupees. "The combination brings ...
IndusInd Bank seals $2.4 billion deal to buy Bharat Financial Inclusion
IndusInd will give Bharat Financial's shareholders 639 of its shares for every 1,000 shares