Merger of ING Vysya Bank with Kotak Mahindra Bank and

Objective - To analyze the strategic rationale, growth potential

& benefit to stakeholders, merger process, merger terms and
impact on the banking sector and employees

Kotak Mahindra had announced the buyout of ING Vysya Bank in

an all-stock deal worth over $2.4 million in November, 2014 and
the transaction received shareholders' nod in January, 2015.
Shareholders of Vysya will receive 0.725 shares in Kotak for each
Vysya share. This deal will make Kotak the fourth-largest private
bank in the country in terms of total business. The biggest three
are ICICI Bank, HDFC Bank and Axis Bank. The combined
banking entity will have a widespread network of 1,214 branches
across the country. ING Vysya shareholders will own
approximately 15.2 per cent of the equity share capital of the
merged Kotak. ING Group will become the largest non-promoter
shareholder in Kotak post merger with an estimated holding of

6.47 per cent. Uday Kotak will own around 34 per cent of the
combined entity.

About ING Vysya Bank

ING Vysya Bank is a Bangalore based bank offering retail,

private and wholesale banking products to its more than two
million customers. Established over 80 years ago, Vysya's panIndian network spans around 573 branches. The bank has
around 10,000 employees and shares are listed on the Bombay
Stock Exchange and the National Stock Exchange of India
(INGVYSYABK). In 1999 ING Bank's predecessor Bank Bruxelles
Lambert acquired an equity stake in Vysya bank which ING
increased to around the current level in 2002. ING in 2002 also
formed an Insurance joint-venture with Vysya, in which ING sold
its interest in 2013.

About Kotak Mahindra Bank

Kotak Mahindra Bank is part of the Kotak Mahindra Group, one

of India's leading financial services conglomerates, founded in
1985. With 22,000 employees, the bank has a distribution
network of 652 branches across India and international offices in
London, New York, Dubai, Abu Dhabi, Mauritius and Singapore.
Kotak offers wealth management and personal finance solutions,
transaction banking and lending and advice to corporates and
financial institutions. Kotak shares are listed on the Bombay
Stock Exchange and the National Stock Exchange of India
(KOTAKBANK).

We will analyze the M&A deal in the context of the Indian

banking industry. We are going to study the impact of the deal on
all the stake holders involved and device a strategy for smooth
integration and an exciting journey ahead for the merged entity.
We aim to provide solutions to the problems faced by the
management such as challenges in integrating the work culture
where the target bank's staff are still unionised.

Methodology

Expected Results
Short term and long term strategies adopted for the
deal
Impact of the deal on the Indian Banking Industry
Benefits to stakeholders
Interaction with CCI and RBI with respect to
compliance norms