Deals
SMFG Said to Be in Talks to Buy Minority Stake in Yes Bank
Yes Bank shares have dropped 9.5% this year, valuing the lender at about $6.6 billion.
Photographer: Debajyoti Chakraborty/NurPhoto/Getty Images
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Sumitomo Mitsui Financial Group Inc., Japan’s second-biggest lender, is in talks to buy a significant minority stake in India’s Yes Bank Ltd., according to people familiar with the matter.
A potential offer for a stake in the Mumbai-based bank will likely be determined by market prices, the people said, asking not to be identified because the deliberations are private. Talks are ongoing and may not result in a deal, the people said.