ING Vysya Bank To Merge With Kotak Mahindra Bank Thursday Nov 20,2014

 

Kotak Mahindra Bank on Thursday announced a $2.4 billion all-share deal to acquire  ING Vysya.

The merger decision was taken at the BM's of ING Vysya and Kotak Mahindra Bank Board Meeting on Thursday Nov 20,2014 which is subject to the approval bt their respective shareholders

                                                            ING Vysya                               Kotak Mahindra

No of Branches                                        573                                              641

No of Employees                                  10591                                          29220

Mkt Cap (Nov 20,2014)                       15513 crores                               89252 crores 

Swap Ratio

1000 shares of ING Vysya for 725 Shares of Kotak Mahindra

The share exchange ratio indicates a price of Rs 790 for each ING Vysya share. That compares to ING Vysya's closing price of Rs 816.95 on Thursday.

Shareholding Pattern

                                                         ING Vysya                                Kotak Mahindra

 Promoter                                                NA                                               40.0%

Domestic                                           29.4%                                           17.3%

FI's                                                    27.8%                                           34.6%

ING                                                   42.7%                                            NA

Other FDI                                          00.1%                                             8.0%