The government has approved the strategic disinvestment and transfer of management control in
IDBI Bank Ltd. The Cabinet Committee on Economic Affairs, which met under the chairmanship of Prime Minister Narendra Modi, gave its in-principle go ahead, according to an official statement on Wednesday. The government currently holds a 45.48% stake in the lender, while state-run Life Insurance Corp. of India is the promoter with a 49.24% stake.
“The extent of respective shareholding to be divested by GoI and LIC shall be decided at the time of structuring of transaction in consultation with RBI,” the government said in the statement. The strategic buyer will infuse funds, new technology and best management practices for optimal development of business potential and growth of the bank and generate more business without any dependence on LIC and government assistance or funds, it said.
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HO CHI MINH CITY, Vietnam, May 4, 2021 /PRNewswire/ FPT - Vietnam s leading technology corporation has officially announced its strategic investment in Base Enterprise - a technology company that owns the most popular corporate governance platform in Vietnam (Base.vn), under which FPT would own a majority stake. This cooperation will reinforce the two sides to promote the comprehensive digital transformation ecosystem for 800,000 enterprises.
FPT Corp acquires Base.vn
Mr. Nguyen Van Khoa, CEO of FPT and Mr. Pham Kim Hung - Founder & CEO of Base.vn (left to right)
Pham Kim Hung - Founder & CEO of Base.vn said: Base.vn has been solving 3 big issues of businesses including productivity enhancement management, information transparency, human resources management and development. We plan to develop other major solutions such as financial management, customer management and business development on one unified platform. The cooperation with
/PRNewswire/ MiX Telematics has joined with the road safety leader Safer Australian Roads and Highways (SARAH) to promote road safety initiatives across our.
The extent of respective shareholding to be divested by the government and LIC will be decided at the time of structuring of transaction in consultation with the Reserve Bank of India (RBI), according to an official statement.