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Axis Bank Terminates Deal To Sell Entire Stake In UK Unit

Axis Bank Ltd said it has terminated a deal on sale of entire stake in its UK unit to OpenPayd Holdings. The Bank will now initiate the winding up process of Axis Bank UK Limited.

"... the parties have mutually decided not to go ahead with the aforesaid transaction and accordingly have terminated the above Share Purchase Agreement," Axis Bank said in a statement.

In March, 2021, Axis Bank had said it entered into an agreement with OpenPayd for sale of 100% stake in Axis Bank UK Limited.

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