DIRS.INFO The most relevant business & tech news

A representative for Co-op Bank declined to comment. The sale is being closely watched as one of the first examples of long-touted consolidation among Britain's midsize lenders. Co-op Bank had a book value of 1.3 billion pounds ($1.6 billion) at the end of December. Despite interest from financial investors, Co-op Bank is more focused on a deal with a competitor, two people said. Aldermore, OSB, Paragon and Shawbrook declined to comment.

Persons: Toby Melville, Aldermore, JC Flowers, Bain, Pablo Mayo Cerqueiro, Andres Gonzalez, Anousha Sakoui, Sharon Singleton Organizations: Bank, REUTERS, Reuters, Paragon Banking Group, Paragon, Bain Capital, Co, Fenchurch Advisory, PJT Partners, Thomson Locations: London, British, Aldermore

LONDON, May 4 (Reuters) - U.S. buyout house Blackstone (BX.N) is weighing options for Dutch merchant bank NIBC, including a possible sale, people familiar with the matter told Reuters. Blackstone has also been considering potential acquisitions in the absence of a sale, one person added. The Hague-based NIBC offers financing for industries such as automotive, commercial real estate, infrastructure and shipping, as well as retail mortgages. It has been exiting non-core businesses, including deal advisory and leveraged finance, in a bid to streamline its operations. The group had 22.8 billion euros of assets on its balance sheet at the end of last year and an equity value of around 2 billion euros ($2.21 billion), according to its 2022 annual accounts, which showed a profit of 179 million euros excluding non-recurring expenses.

In addition to mergers and acquisitions, the options include a sale of the bank and an initial public offering (IPO), the people said. Officials for Co-op Bank, Aldermore, OneSavings Bank, Paragon and Shawbrook declined to comment. Co-op Bank had an equity value of close to 1.3 billion pounds ($1.61 billion) as of the end of December, based on its latest annual accounts. It had more than 28 billion pounds of assets on its balance sheet and reported a profit before tax of 132.6 million pounds for 2022. Later that year, Co-op Bank made an offer for domestic rival TSB Group, which was rejected by Spanish parent Banco Sabadell (SABE.MC).

☆ Japan's SBI considering delisting Shinsei, Kyodo says
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Oct 19 (Reuters) - Japanese financial group SBI Holdings (8473.T) is considering delisting mid-size lender Shinsei Bank Ltd (8303.T) and will explore options with the country's banking regulator, the Kyodo news agency reported on Wednesday. SBI said this month it planned to increase its stake to a majority 50.05% by the end of March. An SBI spokesperson said it had nothing to announce at this time. The Japanese government owns about 20% of Shinsei following its bankruptcy in Japan's late 1990s banking crisis. SBI first took a stake in Shinsei after JC Flowers sold down its holding in 2019.

☆ India's Yes Bank to exit reconstruction scheme after lock-in ends
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Yes Bank is pictured on the facade of its headquarters in Mumbai, India January 17, 2018. REUTERS/Danish SiddiquiBENGALURU, Sept 23 (Reuters) - India's Yes Bank Ltd (YESB.NS) said on Friday the Reserve Bank of India would allow it to exit a reconstruction scheme put in place more than two years ago only after the share lock-in period ends. The bank said in a regulatory filing the lock-in period for shares of existing shareholders would end in March next year. In March 2020, Yes Bank's financial position had seriously deteriorated, sparking contagion risk in the banking system from the then fifth largest bank in India. Earlier this week, it approved private equity firm JC Flowers ARC as the buyer for its $6 billion stressed loan portfolio.

☆ Indian shares set to open lower ahead of Fed rate hike decision
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Francis MascarenhasBENGALURU, Sept 21 (Reuters) - Indian shares are expected to open slightly lower on Wednesday, after two straight sessions of gains, as investors brace for a hefty rate hike from the U.S. Federal Reserve and clues on further hikes. Register now for FREE unlimited access to Reuters.com RegisterForeign investors bought a net $91.9 million worth of Indian equities on Tuesday, Refinitiv data showed. The Fed is set to announce its decision at the end of a two-day policy meeting later in the day. Rate futures traders are pricing in an 81% chance of a 75-basis-point hike and a 19% probability of a jumbo 100 bps increase. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "JC Flowers"

6 mentions found