India holds the largest privatization of $ 47.4 billion
In the next five years, the Indian government intends to sell state-owned shares to private individuals, reducing its stake in large state-owned companies to 40%.
According to senior Indian officials, this step will allow the government to bail out $ 47.4 billion.
This restructuring of state-owned companies is designed to stimulate investment projects, and proceeds from the sale of shares will increase the state budget.
Among the companies that fall under partial privatization are Oil and Natural Gas Corporation, Indian Oil Refinery, GAIL Gas Distribution Company and several other large companies.
However, this initiative has its opponents, who are confident that the state should retain a controlling stake in a number of companies, in particular, in the field of life insurance, Life Insurance Corporation.
“Approval of share swap ratios and the shareholding of the current shareholders of three banks in the merged bank is planned in early July 2019 based on the findings of the international financial consultants based on the results of assessing the net asset value of the three banks,” the report said.
Information about the merged AsiaCredit Bank and Capital Bank Kazakhstan to Tengri Bank first appeared in early May 2019.
Recall the major shareholder of Tengri Bank is the Indian Punjab National Bank (41.64%).
According to the stock exchange, the owner of AsiaCredit Bank is a Kazakh businessman Nurbol Sultan, he owns 99.9% of the shares of the bank.
The owner of Capital Bank Kazakhstan is a Kazakhstani businessman Orifjan Shadiev.
A major shareholder of Tengri Bank is Indian Punjab National Bank (41.64%).