New Delhi, April 1 — ICICI Bank has announced its decision to fully divest its 19% stake in ICICI Merchant Services Private Limited (IMSPL), marking a significant step in its strategic restructuring.
The bank has entered into a definitive share purchase agreement with First Data Holding I (Netherlands) B.V., its Indian nominee First Data (India) Private Limited, and Fiserv Merchant Solutions Private Limited (formerly IMSPL), for the sale of its entire shareholding in IMSPL.
In a regulatory filing made on Saturday, ICICI Bank confirmed that the transaction is subject to customary regulatory and statutory approvals. Once completed, IMSPL will cease to be an associate company of ICICI Bank.
The bank had earlier disclosed in December 2024 that its board had given the green light for this stake sale.
The transaction is expected to be finalized before June 30, 2025, with the official transfer of shares and completion of procedures to be announced in due course.
This move aligns with ICICI Bank's ongoing efforts to streamline its investments and optimize its focus on core banking operations.
The bank has entered into a definitive share purchase agreement with First Data Holding I (Netherlands) B.V., its Indian nominee First Data (India) Private Limited, and Fiserv Merchant Solutions Private Limited (formerly IMSPL), for the sale of its entire shareholding in IMSPL.
In a regulatory filing made on Saturday, ICICI Bank confirmed that the transaction is subject to customary regulatory and statutory approvals. Once completed, IMSPL will cease to be an associate company of ICICI Bank.
The bank had earlier disclosed in December 2024 that its board had given the green light for this stake sale.
The transaction is expected to be finalized before June 30, 2025, with the official transfer of shares and completion of procedures to be announced in due course.
This move aligns with ICICI Bank's ongoing efforts to streamline its investments and optimize its focus on core banking operations.