ICICI Bank Gets Board Nod to Sell 19% Stake in ICICI Merchant Services

MT Newswires Live

2024/12/13

ICICI Bank (NSE:ICICIBANK, BOM:532174) has received board approval for the proposed sale of a 19% stake in its associate company ICICI Merchant Services to electronic commerce and payment services First Data Holdings 1 (Netherlands).

The deal is estimated to be in the region of 1.60 billion Indian rupees to 1.90 billion rupees, according to a Friday filing to the stock exchanges.

The transaction is expected to be completed by June 30, 2025.

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