Sumitomo Mitsui Banking Completes Acquisition of 20% Stake in Yes Bank
MT Newswires Live
Sep 18
Sumitomo Mitsui Banking Corporation (SMBC) has completed the acquisition of a 20% stake in Yes Bank (NSE:YESBANK, BOM:532648), according to a Thursday filing to the Indian stock exchanges.
The stake was acquired through a secondary purchase of shares from State Bank of India (NSE:SBIN, BOM:500112) and other bank investors that participated in the Yes Bank's reconstruction scheme.
With this acquisition, SMBC is now the largest shareholder in YES Bank, while SBI remains a major shareholder with over 10% stake.
Yes Bank shares were down nearly 1% in recent trade.
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