India, Nov. 4 -- The Competition Commission of India (CCI) has approved Kotak Mahindra Bank Ltd's proposed acquisition of Deutsche Bank Aktiengesellschaft's retail banking, private banking and wealth management businesses in India, along with related transactions.
The deal involves the transfer of Deutsche Bank's identified businesses operating through its Indian branches to Kotak Mahindra Bank on a going-concern basis through a slump sale arrangement.
Additionally, the parties are considering referral agreements through their respective affiliates. Under these arrangements, customers of Deutsche Investments India Pvt Ltd, an indirect wholly owned subsidiary of Deutsche Bank, may be referred to relevant wholly owned subsidiaries of Kotak ...