Market Chatter: Blackstone Weighs Stake in India's IIFL Finance as Fairfax Eyes Exit
US-based alternative asset manager Blackstone is among global investment firms considering a stake in IIFL Finance (NSE:IIFL, BOM:532636) as Fairfax Financial Holdings (TSE:FFH) weighs selling its entire holding, Bloomberg reported Monday.Fairfax, which held a 15.2% stake in IIFL Finance as of June 30, is considering the stake sale to comply with regulatory requirements as it moves toward acquiring a 60.7% stake in IDBI Bank (NSE:IDBI, BOM:500116), the report said.Blackstone is currently in discussions with Fairfax and other shareholders, although discussions remain preliminary, Bloomberg said. IIFL Finance had a market value of about $2.9 billion as of June 30.However, Blackstone toldthat the matter is just market rumour, whereas Fairfax Financial Holdings did not immediately respond to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
