Acquisition

Of Bank of Rajasthan By ICICI Bank

ICICI BANK (PROFILE) 2010

TYPE
TREDED INDUSTRY FOUNDED PRODUCT HEADQUATER

PRIVATE LIMITED COMPANY

BSC-532174, NSC. BANKING & FINANCIAL SERVICES. 1954. LOAN, INVESTMENT, FINANCE & INSURANCE. MUMBAI, INDIA.

AREA SERVED
NET PROFIT TOTAL ASSET

WORLDWIDE, 18 CONTRY.
Rs. 40.25 BILLIAN. Rs. 3634.00 BILLIAN.

BANK OF RAJASTHAN (PROFILE)2010

TYPE
TREDED INDUSTRY FOUNDED PRODUCT

PRIVATE LIMITED COMPANY

BSC-500015. BANKING. 1943. LOAN, SAVING, INVESTMENT.

HEADQUATER
AREA SERVED NET PROFIT TOTAL ASSET

UDAIPUR, INDIA.
INDIA. Rs. 1.18 BILLIAN. Rs. 172.24 BILLIAN.

Acquisition Motive Inorganic Growth

Since 1997, ICICI Bank has acquired samaller banks to increase its reach. 1997 Acquired ITC Classic Finance 1998 Acquired Angram Finance 2000 Acquired with the Bank of Madura 2007 Acquired Sangli Bank

2010 Acquiring Bank of Rajasthan

Details of Merger & Acqisition Acquiring Company- Bank Of Rajasthan

Acquired Comapny- ICICI Bank

Type Of Acquisition- Horizontal Acquisition.

Process of Acquisition
This is a horizontal acquisition in related function area in same industry as banking sector.
In order to acquier asset of a non-performing company and turn it around by better management. Achiveing inorganic growth for self by access to 3 millian customer of BOR and 463 branches. ICICI Bank said it agreed to acquier Bank of Rajasthan t0 strengther its presence in northen & western india.

Contin......
ICICI Bank offered to pay 188.42 rupee per share, in all share deal for Bank of Rajasthan. ICICI Bank offering the smaller banks to controlling shareholders 25 share in ICICI for 118 shares of Bank of Rajasthan. The board of both banks have granted in-principle approval for the acquisition in May 2010. Post-acquisition ICICI bank branch network go up to 2463 from 2000 branches.

Legal Problem EGM kolkata Cicvil

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