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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment

Temasek, GIC stake rise in ICICI Bank under scrutiny

Posted on 11 May 2009

From Business-standard.com: The finance ministry and the Reserve Bank of India (RBI) has asked the Securities and Exchange Board of India (Sebi) to examine whether a proposal by Temasek Holdings and Government of Singapore Investment Corporation (GIC) to increase their stakes in ICICI Bank would trigger the takeover code under which they would have to make an open offer to buy an additional 20 per cent.
The Singapore government has sought clarification on a proposal for the two companies to increase their stakes in ICICI Bank to 20 per cent, each holding 10 per cent…….Full Article: Source


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