MUMBAI: Sipadan Investments (Mauritius) Ltd an arm of the $33.67 billion Malaysian sovereign wealth fund Khazanah Nasional Berhad is selling almost all of its stake in IDFC Bank in a block deal which will be executed on Wednesday, two people familiar with the deal said.“They will sell about 80.4 million shares at up to a 4 per cent discount to the closing price on Tuesday. The deal is likely to be closed early on Wednesday. UBS is the sole banker to the deal,” said a banker who has seen the term sheet.Sipadan own 90.63 million shares or 2.67 per cent shares in IDFC Bank. It has received these shares after the demerger of the bank from IDFC Ltd. Khazanah could not be immediately reached.

Source: Economic Times November 29, 2016 17:00 UTC