Temasek Holdings, the Singapore government’s investment company, has furthered its talks with Indian authorities to acquire a controlling stake in capital-starved Lakshmi Vilas Bank (LVB).
According to persons aware of the development, Temasek has approached the corporate affairs and finance ministries for their approval to buy a 51 per cent stake, which will give it controlling rights in LVB. “Temasek already has an interest in several financial sector firms. Hence, it is seeking consent on whether it can take a controlling stake in one more Indian bank, which is ...
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