CPPIB ups stake in India's Kotak Mahindra Bank
Canada Pension Plan Investment Board (CPPIB) has invested INR11.5 billion ($170 million) in India's Kotak Mahindra Bank, picking up a stake held by Japan's Sumitomo Mitsui Banking Corporation.
In an open market transaction, CPPIB bought 18.1 million shares of Kotak from Sumitomo for INR636.25 apiece. The deal raises CPPIB's stake in the bank to 4.9%, just below the 5% ownership limit in Indian...
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