On 11 September 2017
Bharat Financial Inclusion has on 11 September 2017 entered into an Exclusivity Agreement with IndusInd Bank for agreeing to have an exclusive discussion with IndusInd Bank about the proposed potential strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure.The agreement primarily provides for confidentiality of information / discussion and finalisation of the terms and conditions relating to the proposed transaction with a view to entering into a definitive documentation after the necessary approvals.
The proposed transaction would be subject to due diligence, approval of the Boards, shareholders, statutory/ regulatory and other third approvals as may be considered under the applicable laws.
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