<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 正在領先於其他競爭者，計劃以 70 億美元的估值收購印度政府和 LIC 持有的 IDBI 銀行 60.72% 的股份。Fairfax 在 Kotak Mahindra Bank 之前，計劃以全現金出價與 IDBI 的估值相匹配。兩家競標者均已通過印度儲備銀行的審查，政府將在公開競標前設定一個保密的底價</p>

據報道，Fairfax Financial Holdings Limited 在從政府和印度人壽保險公司手中收購 IDBI 銀行多數股權的競賽中處於領先地位