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ICICI Sec Passes On M&A Work To ICICI Bank To Tap Aquisition Funding

Posted on July 03, 2009

ICICI Securities Ltd (I-Sec), the investment banking subsidiary of ICICI Bank, has ceded a major role to the parent. I-Sec will not do M&A advisory work on such deals which involve a change in the control of the company. From now on, such mandates will be done by the internal investment banking division of ICICI Bank.The Economic Times reported, quoting Madhabi Puri-Buch, MD & CEO of I-sec, that her firm will not do such M&A mandates where control changes hands. Since a predominant number of people, who wish to be advised on M&A, also look for acquisition finance, it was decided that the ...

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