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Japan's Sumitomo to acquire 20% stake in YES Bank from SBI, Others
Source Business Line (opens in a new tab)BSE Announcement (opens in a new tab)
Sumitomo Mitsui Banking Corporation (SMBC) is to acquire a 20% stake in Mumbai-based publicly listed YES Bank through a secondary stake purchase of 13.19% from SBI and 6.81% aggregate stake from other bank shareholders including Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited.YES Bank was advised by Citigroup Global Markets Private Limited (Citi) as its financial advisor and AZB & Partners (AZB) as its legal advisor. SMBC was advised by its financial advisors J.P. Morgan and Jefferies and legal advisors J. Sagar Associates (JSA) and Anderson Mori & Tomotsune (on the Japanese law aspects).