Project Pipe­line ....................................

Banking Frontiers - - Highlights -

Bank of Bar­oda is propos­ing to un­der­take a fi­nan­cial and tax due dili­gence ex­er­cise on the pro­posed amal­ga­ma­tion of Bank of Bar­oda, Dena Bank and Vijaya Bank. The bank has put up a no­ti­fi­ca­tion for an ex­pe­ri­enced con­sul­tant to con­duct a de­tailed due dili­gence of the 3 en­ti­ties for the fi­nan­cial years 2015-16, 201617, 2017-18 and April 2018 to Sep 2018 cov­er­ing fi­nan­cial and tax due dili­gence. Fi­nan­cial due dili­gence shall in­clude anal­y­sis of fi­nan­cial ac­count­ing and tax data to iden­tify ma­jor is­sues and risks, while tax due dili­gence will cover di­rect and in­di­rect taxes. The bank is also look­ing for a con­sul­tant to un­der­take a val­u­a­tion ex­er­cise and de­ter­mine the swap ra­tio for the pro­posed amal­ga­ma­tion. The val­uer would value the 3 banks and also work with the in­de­pen­dent valuers ap­pointed by Dena Bank and Vijaya Bank to gain com­fort on the val­u­a­tion of each of the two banks pre­pared by their re­spec­tive valuers.

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