TORONTO — Fairfax Financial Holdings Ltd. has signed a deal to buy a majority stake in Indian bank IDBI Bank Ltd.
Under the deal, it is paying about $7.9 billion (528.78 billion rupees) for a 60.72 per cent equity stake in the bank.
The purchase comes after a two-stage, competitive bidding process.
Fairfax is acquiring the stake from the Indian government and Life Insurance Corp. of India.
Once the deal is complete, the Indian government will continue to hold a 15 per cent interest in IDBI, while Life Insurance Corp. of India will own 19 per cent.
The deal must be approved by the Reserve Bank of India.
---
This report by The Canadian Press was first published Oct. 14, 2026.
