Rabobank plans $100 mn agri-business PE fund

Rabobank, the Netherlands-based financial institution, is planning to set up a $100 million private equity fund in India which will focus on the agriculture value chain.
Rabobank Group has some 175-member banks in the Netherlands and dozens of subsidiaries around the world that focus on the food, agribusiness, and financial industries.

This private equity fund is expected to invest in small and medium-sized companies ranging from contract farming at the primary end and key elements of the agricultural supply chain such as cold storage chains to food processing and rural retail. The deal sizes are likely to be in the range of $3-10 million per transaction.

Read more in The Business Standard article.

Foreign banks eye stake in Yes Bank

Two leading foreign banks have evinced an interest in picking up to 4.9% stake in Yes Bank. A tie-up would help Yes Bank add muscle to its trade-finance and cross-border transaction capabilities besides enhancing its global distribution reach, Rana Kapoor Chairman Yes Bank said.He, however, declined to divulge the names of the two foreign banks but said that "only American and European banks interest us presently." He denied reports that HSBC and Standard Chartered Bank had indicated any interest in Yes Bank.

Categorically ruling out ceding management control to any outside entity, Kapoor said that under no condition would the promoters' holding be allowed to drop below 30%. Presently, it stands at 34%.

The bank already has foreign holding with marquee investors holding stakes. While Netherlands-based RaboBank holds an 18% stake, Global Orient of Singapore holds 4.99%. Swiss Re holds 3.4%.