India, Nov. 4 -- The Government of India has issued a release:
The Competition Commission of India (CCI) has approved the acquisition of certain business of Deutsche Bank Aktiengesellschaft by Kotak Mahindra Bank Limited, and other related transactions.
The Proposed Combination envisages acquisition of Retail Banking/ Private Banking and Wealth Management business of Deutsche Bank Aktiengesellschaft (Seller) undertaken through its branches in India (Target Business), as a going concern on a slump sale basis by Kotak Mahindra Bank Limited (Acquirer) from the Seller [the Acquirer and the Seller are collectively referred to as 'Parties'].
Further, the Parties, through their affiliates, are contemplating to enter into referral arrangements f...