<div id="readability-page-1"><div><p>The government's long-running plan to exit IDBI Bank Limited (NSEI:IDBI) has reached a crucial stage, with Toronto-based Fairfax Financial Holdings Limited (TSX:FFH) now seen as the strongest contender for a majority takeover, according to a report by The Economic Times. The company is ahead of rival bidder Kotak Mahindra Bank Limited (BSE:500247) as the deadline for submitting financial offers approaches. The union government and Life Insurance Corporation of India (NSEI:LICI) (LIC) together plan to sell 60.72% stake, valued at nearly $7,000 million at current market prices.</p><p>Fairfax, Kotak shortlisted from earlier round. Only two serious bidders -- Fairfax Financial and Kotak Mahindra Bank -- remain in the race. Both were shortlisted after expressing interest when the privatisation process began two years ago.</p><p>Fairfax, led by Indian-Canadian investor Prem Watsa, is reportedly preparing an all-cash bid that closely matches IDBI Bank's current valuation, the news report said. Kotak Mahindra Bank, meanwhile, is said to be weighing a combination of cash and shares for its offer. The news report quoted sources as saying that final bids may spill over into early January.</p><p>Emirates NBD Bank PJSC (DFM:EMIRATESNBD), which had initially shown interest, is reconsidering whether to remain in the final round. The bank recently signed a deal to acquire a controlling stake in RBL Bank, and this new transaction may influence its decision, the news report said. Both Fairfax and Kotak Mahindra Bank have undergone Reserve Bank of India (RBI) checks to ensure they meet the ?fit and proper?</p><p>criteria needed to place financial bids. Regulators have already issued clearances to both. The next major step is for the government to decide on a reserve price for the sale.</p><p>According to the preliminary information memorandum issued in October 2022, the reserve price will be determined after bids are received but before they are opened. It will remain confidential and will not be disclosed to bidders.</p></div></div>

FRFHF

<p>Fairfax Financial Holdings Limited 正在领先于其他竞争者，计划以 70 亿美元的估值收购印度政府和 LIC 持有的 IDBI 银行 60.72% 的股份。Fairfax 在 Kotak Mahindra Bank 之前，计划以全现金出价与 IDBI 的估值相匹配。两家竞标者均已通过印度储备银行的审查，政府将在公开竞标前设定一个保密的底价</p>

据报道，Fairfax Financial Holdings Limited 在从政府和印度人寿保险公司手中收购 IDBI 银行多数股权的竞赛中处于领先地位