TORONTO – Fairfax Financial Holdings Ltd. has signed a deal to buy a majority stake in Indian bank IDBI Bank Ltd.
Under the deal, it is paying about $7.9 billion (528.78 billion rupees) for a 60.72 per cent equity stake in the bank.
The purchase comes after a two-stage, competitive bidding process.
Fairfax is acquiring the stake from the Indian government and Life Insurance Corp. of India.
Once the deal is complete, the Indian government will continue to hold a 15 per cent interest in IDBI, while Life Insurance Corp. of India will own 19 per cent.
The deal must be approved by the Reserve Bank of India.
This report by The Canadian Press was first published Oct. 14, 2026.
Companies in this story: (TSX:FFH)
