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Clix getting controlling stake after merger with LVB may have hurt deal

AION Capital-backed NBFC rues delays, missed opportunity in failed deal; sources say it was about to revise offer, but the Reserve Bank ran out of patience

Topics
Lakshmi Vilas Bank | Clix Capital | Lakshmi Vilas Bank crisis

Surajeet Das Gupta & Hamsini Karthik  |  New Delhi/Mumbai 



DBS, Capri Global among suitors for cash-strapped Lakshmi Vilas Bank
The LVB board had announced in June that it had signed a non-binding agreement for talks with Clix on amalgamation, though informal talks started as early as April

AION Capital-backed non-banking financial company Clix Group was about to improve its initial offer for merging with Laxmi Vilas Bank (LVB). But, it was too late, because the move got derailed on Tuesday after the (RBI) announced a draft deal for amalgamation of the financially stressed bank with .

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First Published: Thu, November 19 2020. 06:05 IST

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